Calamos Advisors LLC Acquires Shares of 380,510 Banco Bradesco SA $BBD

Key Points

• Calamos Advisors LLC established a new Q4 position in Banco Bradesco (NYSE: BBD), buying 380,510 shares worth about $1.27 million.
• Banco Bradesco raised its monthly dividend to $0.0037 (annualized yield ~1.1%), payable June 8 with record/ex-div date May 6, even as the dividend payout ratio stands at 110.26%.
• Q4 results showed EPS of $0.11 that met estimates but revenue of $5.52 billion missed the $6.68 billion consensus, and the stock trades around $3.91 with an average analyst rating of "Buy."

Calamos Advisors LLC bought a new position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm bought 380,510 shares of the bank's stock, valued at approximately $1,267,000.

Other hedge funds also recently made changes to their positions in the company. Aquamarine Financial Cayman Ltd increased its holdings in shares of Banco Bradesco by 8.1% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank's stock valued at $517,056,000 after acquiring an additional 11,137,145 shares during the last quarter. B. Metzler seel. Sohn & Co. AG boosted its holdings in Banco Bradesco by 24.9% in the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 372,588 shares of the bank's stock worth $1,241,000 after purchasing an additional 74,373 shares during the period. Checchi Capital Advisers LLC acquired a new position in Banco Bradesco in the fourth quarter worth $39,000. Mirae Asset Global Investments Co. Ltd. increased its stake in Banco Bradesco by 5.5% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 295,160 shares of the bank's stock valued at $983,000 after purchasing an additional 15,460 shares during the last quarter. Finally, Eagle Bay Advisors LLC bought a new stake in Banco Bradesco during the fourth quarter valued at $50,000.

Banco Bradesco Trading Down 0.9%

Shares of NYSE BBD opened at $3.91 on Tuesday. Banco Bradesco SA has a 12-month low of $2.26 and a 12-month high of $4.30. The company has a market cap of $41.38 billion, a price-to-earnings ratio of 10.01, a price-to-earnings-growth ratio of 0.51 and a beta of 0.55. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock's 50 day simple moving average is $3.85 and its 200 day simple moving average is $3.66.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Thursday, February 5th. The bank reported $0.11 earnings per share for the quarter, hitting the consensus estimate of $0.11. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%.The firm had revenue of $5.52 billion for the quarter, compared to analyst estimates of $6.68 billion. Equities research analysts expect that Banco Bradesco SA will post 0.47 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 8th. Shareholders of record on Wednesday, May 6th will be given a $0.0037 dividend. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, May 6th. Banco Bradesco's dividend payout ratio is 110.26%.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on BBD shares. Weiss Ratings upgraded shares of Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, April 13th. Itau BBA Securities reaffirmed an "outperform" rating on shares of Banco Bradesco in a research report on Friday, February 27th. Four analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of "Buy".

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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