Banco Bradesco SA (NYSE:BBD) Stock Holdings Raised by ARGA Investment Management LP

ARGA Investment Management LP grew its position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 53.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,724,278 shares of the bank's stock after purchasing an additional 43,884,334 shares during the period. Banco Bradesco makes up about 9.5% of ARGA Investment Management LP's investment portfolio, making the stock its 3rd largest position. ARGA Investment Management LP owned approximately 1.19% of Banco Bradesco worth $282,595,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BBD. Simplicity Wealth LLC acquired a new position in Banco Bradesco in the first quarter worth $26,000. BSW Wealth Partners bought a new stake in Banco Bradesco in the first quarter worth about $29,000. Peapack Gladstone Financial Corp raised its position in Banco Bradesco by 54.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after acquiring an additional 6,000 shares in the last quarter. Merit Financial Group LLC bought a new stake in Banco Bradesco in the first quarter worth about $37,000. Finally, Stifel Financial Corp acquired a new stake in Banco Bradesco during the 4th quarter worth about $39,000.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BBD shares. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the company's stock. According to MarketBeat, Banco Bradesco currently has an average rating of "Hold" and an average target price of $2.40.

Banco Bradesco Stock Down 1.1%

NYSE:BBD traded down $0.04 during trading hours on Wednesday, reaching $3.03. 5,857,230 shares of the stock were exchanged, compared to its average volume of 36,846,118. The stock has a market cap of $32.19 billion, a PE ratio of 9.48, a PEG ratio of 0.44 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13. The firm has a 50 day moving average of $2.85 and a 200 day moving average of $2.36.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted 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 12.33% and a net margin of 9.08%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. On average, equities analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Wednesday, July 2nd will be paid a $0.0351 dividend. This represents a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, July 2nd. Banco Bradesco's dividend payout ratio (DPR) is presently 9.38%.

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.