AQR Capital Management LLC Buys 1,483,783 Shares of Banco Bradesco S.A. (NYSE:BBD)

AQR Capital Management LLC increased its stake in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 107.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,870,010 shares of the bank's stock after purchasing an additional 1,483,783 shares during the period. AQR Capital Management LLC's holdings in Banco Bradesco were worth $5,482,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of BBD. HighTower Advisors LLC grew its holdings in shares of Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares during the last quarter. Peapack Gladstone Financial Corp grew its holdings in shares of Banco Bradesco by 54.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after purchasing an additional 6,000 shares during the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock worth $54,000 after purchasing an additional 7,400 shares during the last quarter. Blue Trust Inc. grew its holdings in shares of Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after purchasing an additional 8,801 shares during the last quarter. Finally, PNC Financial Services Group Inc. grew its holdings in shares of Banco Bradesco by 5.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 214,322 shares of the bank's stock worth $409,000 after purchasing an additional 10,938 shares during the last quarter.

Analysts Set New Price Targets

A number of research firms recently commented on BBD. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and cut their price objective for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th.

Banco Bradesco Stock Up 0.2%

Shares of NYSE:BBD traded up $0.01 during trading on Wednesday, reaching $2.76. 21,828,786 shares of the stock were exchanged, compared to its average volume of 33,286,227. 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 S.A. has a 1-year low of $1.84 and a 1-year high of $2.96. The stock has a fifty day moving average of $2.26 and a two-hundred day moving average of $2.16. The firm has a market cap of $29.32 billion, a price-to-earnings ratio of 9.18, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Research analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 7th will be issued a dividend of $0.0022 per share. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a yield of 1.08%. Banco Bradesco's dividend payout ratio (DPR) is currently 6.25%.

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.