Longfellow Investment Management Co. LLC Has $1.40 Million Holdings in Banco Bradesco SA (NYSE:BBD)

Key Points

• Longfellow Investment Management Co. LLC increased its holdings in Banco Bradesco by 24.5% during Q1, owning 626,569 shares valued at approximately $1.4 million.
• Banco Bradesco recently announced a dividend increase, offering $0.0023 per share, representing a yield of 99.0% with a payout ratio of 8.57%.
• Analysts have upgraded Banco Bradesco’s stock from a "hold" to a "buy" rating, with a current consensus price target of $2.40.

Longfellow Investment Management Co. LLC raised its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 24.5% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 626,569 shares of the bank's stock after purchasing an additional 123,171 shares during the period. Longfellow Investment Management Co. LLC's holdings in Banco Bradesco were worth $1,397,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. ARGA Investment Management LP boosted its holdings in Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock valued at $282,595,000 after purchasing an additional 43,884,334 shares during the period. Massachusetts Financial Services Co. MA boosted its holdings in Banco Bradesco by 3.5% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank's stock valued at $231,361,000 after purchasing an additional 3,547,203 shares during the period. Marshall Wace LLP boosted its holdings in Banco Bradesco by 45.4% in the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock valued at $52,988,000 after purchasing an additional 8,661,231 shares during the period. Doma Perpetual Capital Management LLC lifted its holdings in shares of Banco Bradesco by 15.9% during the 4th quarter. Doma Perpetual Capital Management LLC now owns 14,580,430 shares of the bank's stock worth $27,849,000 after acquiring an additional 2,004,992 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in shares of Banco Bradesco by 25.3% during the 4th quarter. Renaissance Technologies LLC now owns 11,854,571 shares of the bank's stock worth $22,642,000 after acquiring an additional 2,392,276 shares during the period.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a report 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 assigned a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Price Performance

Shares of NYSE:BBD traded down $0.04 during midday trading on Thursday, reaching $2.96. 29,340,101 shares of the company's stock were exchanged, compared to its average volume of 42,149,645. The company's 50 day simple moving average is $2.94 and its two-hundred day simple moving average is $2.52. The firm has a market capitalization of $31.45 billion, a PE ratio of 8.44, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.13. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. Equities research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a dividend, which will be paid on Thursday, September 11th. Investors of record on Wednesday, August 6th will be issued a dividend of $0.0023 per share. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a yield of 99.0%. This is an increase from Banco Bradesco's previous dividend of $0.00. Banco Bradesco's payout ratio is 8.57%.

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.