Bessemer Group Inc. Has $18.76 Million Stake in Banco Bradesco SA $BBD

Bessemer Group Inc. grew its holdings in Banco Bradesco SA (NYSE:BBD) by 20.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,072,541 shares of the bank’s stock after purchasing an additional 1,020,186 shares during the period. Bessemer Group Inc. owned about 0.06% of Banco Bradesco worth $18,764,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its holdings in Banco Bradesco by 53.0% in the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank’s stock worth $282,595,000 after buying an additional 43,884,334 shares during the last quarter. Massachusetts Financial Services Co. MA raised its position in Banco Bradesco by 3.5% during the first quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank’s stock valued at $231,361,000 after acquiring an additional 3,547,203 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Banco Bradesco by 22.7% during the 1st quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank’s stock worth $155,393,000 after purchasing an additional 12,873,188 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in shares of Banco Bradesco by 116.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after purchasing an additional 17,853,712 shares during the last quarter. Finally, Earnest Partners LLC increased its stake in shares of Banco Bradesco by 2.5% during the 1st quarter. Earnest Partners LLC now owns 21,864,348 shares of the bank’s stock worth $48,757,000 after purchasing an additional 528,442 shares during the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued 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 company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.40 on Wednesday. Banco Bradesco SA has a 1-year low of $1.84 and a 1-year high of $3.42. The firm has a market capitalization of $36.13 billion, a PE ratio of 9.70, a PEG ratio of 0.41 and a beta of 0.75. The business’s 50 day moving average is $3.19 and its 200-day moving average is $2.92. 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 (NYSE:BBD) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. Sell-side analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Wednesday, November 5th will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a c) dividend on an annualized basis and a yield of 1.2%. Banco Bradesco’s payout ratio is currently 8.57%.

About Banco Bradesco

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.