Banco Bradesco SA $BBD Shares Purchased by AQR Capital Management LLC

Key Points

• AQR Capital Management LLC increased its stake in Banco Bradesco SA by 75.9%, now holding over 5 million shares valued at approximately $11.26 million after acquiring an additional 2.18 million shares in the first quarter.
• Citigroup upgraded Banco Bradesco's rating from "hold" to "buy," with three analysts rating the stock as a buy and a consensus price target of $2.40.
• Banco Bradesco announced a monthly dividend payment of $0.0035, marking an increase from its previous monthly dividend of $0.00, with an annualized yield of 1.3%.

AQR Capital Management LLC increased its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 75.9% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 5,048,938 shares of the bank's stock after purchasing an additional 2,178,928 shares during the period. AQR Capital Management LLC's holdings in Banco Bradesco were worth $11,259,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BBD. Aprio Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the first quarter valued at $25,000. Graham Capital Management L.P. lifted its stake in Banco Bradesco by 4.3% during the 1st quarter. Graham Capital Management L.P. now owns 300,397 shares of the bank's stock worth $670,000 after acquiring an additional 12,460 shares in the last quarter. Vident Advisory LLC boosted its holdings in Banco Bradesco by 355.7% during the 1st quarter. Vident Advisory LLC now owns 296,708 shares of the bank's stock valued at $662,000 after acquiring an additional 231,596 shares during the period. Earnest Partners LLC grew its position in Banco Bradesco by 2.5% in the 1st quarter. Earnest Partners LLC now owns 21,864,348 shares of the bank's stock valued at $48,757,000 after acquiring an additional 528,442 shares in the last quarter. Finally, Samalin Investment Counsel LLC grew its position in Banco Bradesco by 8.8% in the 1st quarter. Samalin Investment Counsel LLC now owns 49,500 shares of the bank's stock valued at $110,000 after acquiring an additional 4,000 shares in the last quarter.

Analysts Set New Price Targets

Separately, Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Stock Performance

Shares of BBD opened at $3.13 on Thursday. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.24. The stock has a market capitalization of $33.26 billion, a PE ratio of 8.93, a PEG ratio of 0.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The stock has a 50-day simple moving average of $2.94 and a 200-day simple moving average of $2.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. On average, analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be given a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is currently 8.57%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.