Icon Wealth Partners LLC Acquires New Stake in Banco Bradesco SA (BBD)

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Icon Wealth Partners LLC acquired a new stake in shares of Banco Bradesco SA (NYSE:BBD) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,151 shares of the bank’s stock, valued at approximately $34,000.

Several other large investors have also bought and sold shares of the company. Advisor Group Inc. raised its position in shares of Banco Bradesco by 21.6% in the first quarter. Advisor Group Inc. now owns 10,150 shares of the bank’s stock valued at $111,000 after purchasing an additional 1,800 shares during the period. Parametric Portfolio Associates LLC grew its stake in shares of Banco Bradesco by 2.8% in the first quarter. Parametric Portfolio Associates LLC now owns 3,956,539 shares of the bank’s stock worth $43,166,000 after acquiring an additional 106,225 shares during the last quarter. NS Partners Ltd grew its stake in shares of Banco Bradesco by 12.4% in the first quarter. NS Partners Ltd now owns 653,468 shares of the bank’s stock worth $7,129,000 after acquiring an additional 72,100 shares during the last quarter. US Bancorp DE grew its stake in shares of Banco Bradesco by 5.4% in the first quarter. US Bancorp DE now owns 23,224 shares of the bank’s stock worth $253,000 after acquiring an additional 1,183 shares during the last quarter. Finally, Laurion Capital Management LP acquired a new stake in shares of Banco Bradesco in the first quarter worth $1,925,000. Institutional investors own 2.47% of the company’s stock.

Several equities research analysts have recently issued reports on BBD shares. Zacks Investment Research upgraded shares of Banco Bradesco from a “hold” rating to a “strong-buy” rating and set a $10.00 price objective on the stock in a research note on Thursday, May 9th. ValuEngine downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, March 1st. Finally, Scotiabank downgraded shares of Banco Bradesco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, February 26th. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has issued a buy rating to the company. Banco Bradesco currently has a consensus rating of “Hold” and a consensus target price of $10.00.

Shares of Banco Bradesco stock opened at $9.36 on Monday. The firm has a market capitalization of $75.18 billion, a PE ratio of 13.18, a P/E/G ratio of 0.53 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.10. Banco Bradesco SA has a 1 year low of $5.41 and a 1 year high of $10.46.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, April 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.18 by $0.03. The business had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $6.51 billion. Banco Bradesco had a net margin of 15.96% and a return on equity of 18.75%. On average, sell-side analysts anticipate that Banco Bradesco SA will post 0.78 earnings per share for the current year.

The business also recently disclosed a monthly dividend, which will be paid on Tuesday, July 9th. Stockholders of record on Wednesday, June 5th will be paid a $0.0047 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Tuesday, June 4th. This represents a $0.06 annualized dividend and a dividend yield of 0.60%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.04%.

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Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

Further Reading: What is the price-to-earnings growth (PEG) ratio?

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Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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