Banco Bradesco SA (NYSE:BBD) Shares Bought by ARGA Investment Management LP

ARGA Investment Management LP grew its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 53.0% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 126,724,278 shares of the bank's stock after buying an additional 43,884,334 shares during the quarter. Banco Bradesco accounts for approximately 9.5% of ARGA Investment Management LP's holdings, making the stock its 3rd biggest holding. ARGA Investment Management LP owned 1.19% of Banco Bradesco worth $282,595,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Northern Trust Corp grew its holdings in Banco Bradesco by 11.4% during the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock worth $7,864,000 after acquiring an additional 421,994 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Banco Bradesco by 431.3% in the 4th quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock valued at $13,762,000 after acquiring an additional 5,848,994 shares during the period. Raymond James Financial Inc. acquired a new stake in Banco Bradesco during the 4th quarter worth approximately $3,222,000. Natixis Advisors LLC raised its holdings in Banco Bradesco by 1,334.2% during the 4th quarter. Natixis Advisors LLC now owns 3,759,101 shares of the bank's stock worth $7,180,000 after buying an additional 3,496,994 shares during the period. Finally, HighTower Advisors LLC raised its holdings in Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after buying an additional 5,421 shares during the period.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded down $0.05 during trading on Friday, reaching $2.88. The company's stock had a trading volume of 10,608,506 shares, compared to its average volume of 36,962,713. The business's 50-day moving average price is $2.87 and its 200-day moving average price is $2.37. The firm has a market cap of $30.60 billion, a PE ratio of 8.98, a P/E/G ratio of 0.43 and a beta of 0.71. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.13. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. The business had revenue of $5.69 billion during the quarter, compared to analysts' expectations of $31.24 billion. Equities analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the stock. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $2.40.

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.