ARGA Investment Management LP Raises Holdings in Banco Bradesco SA (NYSE:BBD)

ARGA Investment Management LP boosted its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 53.0% during the first quarter, according to the company in its most recent 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 makes up about 9.5% of ARGA Investment Management LP's holdings, making the stock its 3rd biggest position. ARGA Investment Management LP owned about 1.19% of Banco Bradesco worth $282,595,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Banco Bradesco by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after purchasing an additional 12,236,689 shares during the period. Wellington Management Group LLP lifted its stake in shares of Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock worth $108,507,000 after purchasing an additional 9,762,964 shares during the period. Arrowstreet Capital Limited Partnership lifted its stake in shares of Banco Bradesco by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock worth $97,079,000 after purchasing an additional 10,537,751 shares during the period. Franklin Resources Inc. increased its holdings in shares of Banco Bradesco by 1.8% during the 4th quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank's stock worth $87,499,000 after buying an additional 821,239 shares during the last quarter. Finally, Marshall Wace LLP increased its holdings in shares of Banco Bradesco by 45.4% during the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock worth $52,988,000 after buying an additional 8,661,231 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Down 2.8%

Shares of Banco Bradesco stock traded down $0.09 during trading hours on Thursday, hitting $2.93. 43,209,841 shares of the company's stock traded hands, compared to its average volume of 37,059,472. The stock has a 50 day simple moving average of $2.86 and a 200-day simple moving average of $2.36. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. The company has a market cap of $31.13 billion, a PE ratio of 9.11, a PEG ratio of 0.44 and a beta of 0.71. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13.

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

Banco Bradesco Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, February 10th. Investors of record on Wednesday, July 2nd will be paid a $0.0351 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a yield of 4.7%. Banco Bradesco's dividend payout ratio (DPR) is 6.25%.

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.