Northern Trust Corp Grows Holdings in Banco Bradesco SA $BBD

Northern Trust Corp grew its stake in Banco Bradesco SA (NYSE:BBD) by 14.2% during the first quarter, Holdings Channel.com reports. The fund owned 4,701,855 shares of the bank’s stock after acquiring an additional 584,838 shares during the period. Northern Trust Corp’s holdings in Banco Bradesco were worth $10,485,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Simplicity Wealth LLC purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $26,000. BSW Wealth Partners purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $29,000. Merit Financial Group LLC purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $37,000. Sagespring Wealth Partners LLC purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $41,000. Finally, Sigma Planning Corp purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $43,000.

Banco Bradesco Trading Up 3.4%

Shares of NYSE:BBD opened at $3.18 on Friday. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.24. The company’s 50 day moving average is $2.94 and its two-hundred day moving average is $2.63. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a market cap of $33.79 billion, a PE ratio of 9.07, a P/E/G ratio of 0.42 and a beta of 0.76.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Equities analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be given a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 8.57%.

Wall Street Analysts Forecast Growth

Separately, Citigroup raised shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, Banco Bradesco has an average rating of “Hold” and an average price target of $2.40.

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.