Banco Bradesco SA (NYSE:BBD) Stake Increased by ARGA Investment Management LP

ARGA Investment Management LP boosted its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 53.0% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 126,724,278 shares of the bank's stock after buying an additional 43,884,334 shares during the quarter. Banco Bradesco makes up approximately 9.5% of ARGA Investment Management LP's portfolio, making the stock its 3rd largest holding. ARGA Investment Management LP owned about 1.19% of Banco Bradesco worth $282,595,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in BBD. Northern Trust Corp lifted its position in shares of Banco Bradesco by 11.4% during the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock valued at $7,864,000 after buying an additional 421,994 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in Banco Bradesco by 431.3% during the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock valued at $13,762,000 after purchasing an additional 5,848,994 shares during the last quarter. Raymond James Financial Inc. purchased a new stake in Banco Bradesco during the fourth quarter valued at about $3,222,000. Natixis Advisors LLC boosted its position in Banco Bradesco by 1,334.2% during the fourth quarter. Natixis Advisors LLC now owns 3,759,101 shares of the bank's stock worth $7,180,000 after purchasing an additional 3,496,994 shares during the period. Finally, HighTower Advisors LLC increased its stake in shares of Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares in the last quarter.

Analyst Ratings Changes

A number of brokerages recently commented on BBD. Citigroup upgraded 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 report on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $2.40.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock traded down $0.02 on Friday, reaching $2.90. The stock had a trading volume of 37,787,895 shares, compared to its average volume of 37,078,180. The business's 50 day moving average is $2.88 and its two-hundred day moving average is $2.37. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.13. The company has a market cap of $30.86 billion, a P/E ratio of 9.06, a price-to-earnings-growth ratio of 0.42 and a beta of 0.71.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. As a group, research analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

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

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.