Trading Report: The Bank of Montreal Can Buys Shares of 606,483 Banco Bradesco SA (BBD)

The Bank of Montreal Can Buys Shares of 606,483 Banco Bradesco SA (BBD)

Bank of Montreal Can purchased a new position in shares of Banco Bradesco SA (NYSE:BBD) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 606,483 shares of the company’s stock, valued at approximately $4,737,000.

Other large investors have also recently added to or reduced their stakes in the company. Prudential PLC raised its stake in Banco Bradesco SA by 1.3% in the first quarter. Prudential PLC now owns 388,106 shares of the company’s stock worth $2,629,000 after buying an additional 5,000 shares during the last quarter. AXA raised its stake in Banco Bradesco SA by 3.6% in the first quarter. AXA now owns 284,116 shares of the company’s stock worth $2,117,000 after buying an additional 10,000 shares during the last quarter. UBS Asset Management Americas Inc. raised its stake in Banco Bradesco SA by 2.1% in the first quarter. UBS Asset Management Americas Inc. now owns 4,673,072 shares of the company’s stock worth $34,814,000 after buying an additional 96,614 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Banco Bradesco SA during the first quarter worth $1,065,000. Finally, Lazard Asset Management LLC raised its stake in Banco Bradesco SA by 35.7% in the first quarter. Lazard Asset Management LLC now owns 5,797,125 shares of the company’s stock worth $43,188,000 after buying an additional 1,524,676 shares during the last quarter. 2.67% of the stock is owned by institutional investors and hedge funds.

Banco Bradesco SA (NYSE:BBD) traded down 1.36% on Wednesday, reaching $9.45. 31,341,838 shares of the company’s stock were exchanged. The stock has a market capitalization of $52.28 billion, a PE ratio of 9.56 and a beta of 1.96. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $9.69. The firm has a 50 day moving average of $9.00 and a 200 day moving average of $7.98.

Banco Bradesco SA (NYSE:BBD) last posted its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Equities analysts predict that Banco Bradesco SA will post $0.87 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Wednesday, March 15th. Shareholders of record on Wednesday, October 5th will be paid a $0.162 dividend. The ex-dividend date is Monday, October 3rd. This is a boost from Banco Bradesco SA’s previous dividend of $0.01. Banco Bradesco SA’s payout ratio is 7.33%.

A number of equities research analysts recently weighed in on the stock. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $9.30 price target on shares of Banco Bradesco SA in a report on Wednesday, September 21st. Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 14th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have assigned a buy rating to the company’s stock. Banco Bradesco SA presently has a consensus rating of “Hold” and an average price target of $8.65.

About Banco Bradesco SA

Banco Bradesco SA is a multiple service bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid?sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.

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