Itau Unibanco Holding S.A. Has $108.78 Million Stock Holdings in Banco Bradesco SA $BBD

Itau Unibanco Holding S.A. lifted its stake in shares of Banco Bradesco SA (NYSE:BBD) by 34.0% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 35,204,316 shares of the bank’s stock after purchasing an additional 8,938,200 shares during the quarter. Banco Bradesco accounts for about 3.8% of Itau Unibanco Holding S.A.’s holdings, making the stock its 6th largest position. Itau Unibanco Holding S.A. owned about 0.33% of Banco Bradesco worth $108,781,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in BBD. GAMMA Investing LLC raised its position in shares of Banco Bradesco by 92.7% during the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after buying an additional 3,864 shares in the last quarter. Aprio Wealth Management LLC purchased a new stake in Banco Bradesco during the first quarter valued at about $25,000. Dorsey & Whitney Trust CO LLC bought a new stake in Banco Bradesco during the first quarter worth about $26,000. Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in Banco Bradesco during the second quarter worth about $45,000. Finally, Union Bancaire Privee UBP SA purchased a new position in shares of Banco Bradesco in the 2nd quarter worth about $46,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.40.

Banco Bradesco Price Performance

BBD stock opened at $3.68 on Friday. The stock has a market capitalization of $39.11 billion, a price-to-earnings ratio of 10.50, a PEG ratio of 0.43 and a beta of 0.76. The firm’s 50-day moving average price is $3.33 and its two-hundred day moving average price is $3.04. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.77.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). The business had revenue of $11.14 billion for the quarter, compared to analysts’ expectations of $34.75 billion. Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. As a group, equities analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be given a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a c) annualized dividend and a dividend yield of 1.2%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 5.71%.

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.