Banco Bradesco SA $BBD Shares Sold by ARGA Investment Management LP

Key Points

• ARGA Investment Management LP reduced its Banco Bradesco stake by 33.3% in Q1, selling about 37.5 million shares and leaving it with 75.1 million shares worth roughly $274.3 million. Banco Bradesco still accounted for 9.0% of ARGA’s portfolio, making it the firm’s third-largest holding.
• Banco Bradesco’s stock was trading at $3.65 with a market cap of $38.73 billion, a P/E ratio of 9.37, and a beta of 0.53. The shares have ranged from a 52-week low of $2.73 to a high of $4.30.
• The bank reported $0.09 EPS on $1.50 billion in quarterly revenue, and analysts expect full-year EPS of 0.5. Weiss Ratings recently upgraded the stock to buy, and MarketBeat shows an average analyst rating of Buy.

ARGA Investment Management LP cut its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 33.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 75,139,939 shares of the bank's stock after selling 37,510,354 shares during the period. Banco Bradesco makes up 9.0% of ARGA Investment Management LP's investment portfolio, making the stock its 3rd biggest holding. ARGA Investment Management LP owned 0.71% of Banco Bradesco worth $274,261,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC lifted its position in shares of Banco Bradesco by 100.5% in the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock worth $27,000 after buying an additional 4,353 shares during the last quarter. Brooklyn Investment Group increased its holdings in shares of Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank's stock valued at $36,000 after acquiring an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Banco Bradesco during the 4th quarter valued at about $39,000. Ballentine Partners LLC bought a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $41,000. Finally, GAMMA Investing LLC raised its stake in shares of Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank's stock valued at $42,000 after acquiring an additional 3,619 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of BBD opened at $3.65 on Friday. The company has a market capitalization of $38.73 billion, a PE ratio of 9.37, a price-to-earnings-growth ratio of 0.43 and a beta of 0.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. Banco Bradesco SA has a one year low of $2.73 and a one year high of $4.30. The company's fifty day moving average price is $3.50 and its 200 day moving average price is $3.68.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. As a group, analysts expect that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Announces Dividend

The firm also recently announced a dividend, which will be paid on Monday, February 8th. Investors of record on Tuesday, July 7th will be paid a dividend of $0.067 per share. The ex-dividend date is Tuesday, July 7th. This represents a yield of 395.0%. Banco Bradesco's dividend payout ratio is presently 20.51%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Buy".

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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