Banco Bradesco S.A. (NYSE:BBD) Stake Raised by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership raised its holdings in Banco Bradesco S.A. (NYSE:BBD) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 50,826,745 shares of the bank’s stock after acquiring an additional 10,537,751 shares during the quarter. Arrowstreet Capital Limited Partnership owned 0.48% of Banco Bradesco worth $97,079,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently made changes to their positions in the company. ARGA Investment Management LP raised its position in shares of Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after purchasing an additional 56,552,808 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Banco Bradesco during the 3rd quarter worth about $104,542,000. Itau Unibanco Holding S.A. raised its holdings in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after buying an additional 13,627,768 shares during the period. Two Sigma Advisers LP lifted its stake in Banco Bradesco by 208.7% during the third quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock valued at $44,824,000 after buying an additional 11,393,100 shares in the last quarter. Finally, Algebris UK Ltd acquired a new position in shares of Banco Bradesco in the fourth quarter worth about $14,111,000.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on BBD shares. 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. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th.

Banco Bradesco Price Performance

NYSE BBD opened at $2.24 on Tuesday. The company has a 50 day simple moving average of $2.10 and a 200-day simple moving average of $2.24. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $2.98. The firm has a market capitalization of $23.79 billion, a price-to-earnings ratio of 7.45, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Equities research analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be paid a dividend of $0.0398 per share. The ex-dividend date is Wednesday, April 2nd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 dividend on an annualized basis and a dividend yield of 21.34%. Banco Bradesco’s dividend payout ratio (DPR) is 43.33%.

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.