Wells Fargo & Company MN Has $634,000 Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Wells Fargo & Company MN boosted its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 10,645.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 332,143 shares of the bank's stock after purchasing an additional 329,052 shares during the period. Wells Fargo & Company MN's holdings in Banco Bradesco were worth $634,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the company. ARGA Investment Management LP grew its holdings in Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after purchasing an additional 56,552,808 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its holdings in shares of Banco Bradesco by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after buying an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Banco Bradesco by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after buying an additional 10,537,751 shares during the last quarter. Wellington Management Group LLP raised its holdings in Banco Bradesco by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock worth $108,507,000 after acquiring an additional 9,762,964 shares during the period. Finally, Algebris UK Ltd acquired a new position in Banco Bradesco during the 4th quarter worth $14,111,000.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.42 during mid-day trading on Thursday, hitting $2.69. The company had a trading volume of 36,293,300 shares, compared to its average volume of 32,530,120. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm has a market cap of $28.63 billion, a P/E ratio of 8.97, a PEG ratio of 0.32 and a beta of 0.65. The business's 50-day simple moving average is $2.21 and its 200-day simple moving average is $2.17.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, analysts predict 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 disclosed a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.0022 per share. This represents a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's payout ratio is 6.67%.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BBD. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price target for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target on the stock in a research report on Monday, January 13th. Finally, Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday.

About Banco Bradesco

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.