Banco Bradesco S.A. (NYSE:BBD) Position Lifted by ARGA Investment Management LP

ARGA Investment Management LP lifted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 215.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,839,944 shares of the bank’s stock after purchasing an additional 56,552,808 shares during the quarter. Banco Bradesco comprises about 5.2% of ARGA Investment Management LP’s investment portfolio, making the stock its 6th biggest position. ARGA Investment Management LP’s holdings in Banco Bradesco were worth $158,224,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. DAVENPORT & Co LLC acquired a new stake in Banco Bradesco in the 4th quarter worth about $66,000. First Affirmative Financial Network lifted its holdings in shares of Banco Bradesco by 82.8% during the 4th quarter. First Affirmative Financial Network now owns 45,257 shares of the bank’s stock worth $86,000 after acquiring an additional 20,495 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Banco Bradesco by 4.4% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,032,246 shares of the bank’s stock worth $5,792,000 after acquiring an additional 127,225 shares during the last quarter. R Squared Ltd purchased a new stake in Banco Bradesco in the fourth quarter valued at approximately $30,000. Finally, Blue Trust Inc. grew its holdings in Banco Bradesco by 78.2% in the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after purchasing an additional 8,801 shares during the period.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BBD. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group dropped their price target on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research note on Friday, January 10th.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.13 on Wednesday. The firm has a fifty day moving average of $2.00 and a 200-day moving average of $2.38. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $3.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $22.61 billion, a P/E ratio of 8.17, a PEG ratio of 0.26 and a beta of 0.94.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.04 annualized dividend and a yield of 1.75%. Banco Bradesco’s dividend payout ratio is currently 11.54%.

Banco Bradesco Company 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.