Northern Trust Corp Purchases 421,994 Shares of Banco Bradesco S.A. (NYSE:BBD)

Northern Trust Corp increased its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 11.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,117,017 shares of the bank’s stock after buying an additional 421,994 shares during the quarter. Northern Trust Corp’s holdings in Banco Bradesco were worth $7,864,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of BBD. R Squared Ltd acquired a new position in Banco Bradesco during the fourth quarter valued at approximately $30,000. Peapack Gladstone Financial Corp boosted its position in Banco Bradesco by 54.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after purchasing an additional 6,000 shares during the last quarter. Blue Trust Inc. boosted its position in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after purchasing an additional 8,801 shares during the last quarter. Stifel Financial Corp acquired a new position in Banco Bradesco during the fourth quarter valued at approximately $39,000. Finally, HighTower Advisors LLC boosted its position in Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock valued at $48,000 after purchasing an additional 5,421 shares during the last quarter.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Bank of America raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and cut their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

Banco Bradesco Stock Performance

BBD opened at $2.74 on Monday. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $2.96. The stock has a market cap of $29.11 billion, a price-to-earnings ratio of 9.12, a PEG ratio of 0.32 and a beta of 0.65. The business has a 50 day moving average of $2.31 and a 200-day moving average of $2.17. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The company had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $31.24 billion. On average, equities research analysts expect that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be given a $0.0022 dividend. The ex-dividend date is Tuesday, May 6th. This represents a dividend yield of 1.08%. Banco Bradesco’s payout ratio is 6.25%.

Banco Bradesco Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.