Earnest Partners LLC Sells 434,006 Shares of Banco Bradesco S.A. (NYSE:BBD)

Earnest Partners LLC lessened its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 2.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 21,335,906 shares of the bank's stock after selling 434,006 shares during the quarter. Earnest Partners LLC owned about 0.20% of Banco Bradesco worth $40,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. ARGA Investment Management LP grew its holdings 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 buying an additional 56,552,808 shares in the last quarter. Massachusetts Financial Services Co. MA grew its stake in shares of Banco Bradesco by 13.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after acquiring an additional 12,236,689 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Banco Bradesco by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after acquiring an additional 10,537,751 shares in the last quarter. Wellington Management Group LLP grew its stake in shares of Banco Bradesco by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after acquiring an additional 9,762,964 shares in the last quarter. Finally, Marshall Wace LLP lifted its position in Banco Bradesco by 45.4% during the fourth quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock worth $52,988,000 after purchasing an additional 8,661,231 shares during the period.

Analyst Upgrades and Downgrades

BBD has been the subject of a number of research reports. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and dropped their target price for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price for the company in a report on Monday, January 13th.

Banco Bradesco Stock Down 1.0 %

Shares of BBD traded down $0.03 on Thursday, reaching $2.44. The company's stock had a trading volume of 24,341,582 shares, compared to its average volume of 32,281,379. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.96. The stock has a market capitalization of $25.91 billion, a PE ratio of 8.12, a PEG ratio of 0.32 and a beta of 0.56. The firm has a fifty day moving average of $2.17 and a 200-day moving average of $2.18.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share 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 analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be issued a $0.0022 dividend. This represents a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's payout ratio is currently 6.67%.

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.