Earnest Partners LLC Has $48.76 Million Stake in Banco Bradesco SA $BBD

Key Points

• Earnest Partners LLC increased its stake in Banco Bradesco SA by 2.5%, acquiring an additional 528,442 shares, bringing its total ownership to 21,864,348 shares valued at approximately $48.76 million.
• Several institutional investors, including ARGA Investment Management and Wellington Management Group, also significantly increased their holdings in Banco Bradesco during the 1st quarter.
• Banco Bradesco's stock has seen upgrades from brokerages like Citigroup and Bank of America, both of which changed their ratings from "hold" to "buy", reflecting improved investor sentiment.

Earnest Partners LLC grew its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 2.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 21,864,348 shares of the bank's stock after buying an additional 528,442 shares during the quarter. Earnest Partners LLC owned about 0.21% of Banco Bradesco worth $48,757,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of BBD. ARGA Investment Management LP raised its position in shares of Banco Bradesco by 53.0% during the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after purchasing an additional 43,884,334 shares during the period. Wellington Management Group LLP raised its position in shares of Banco Bradesco by 22.7% during the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after purchasing an additional 12,873,188 shares during the period. Moerus Capital Management LLC acquired a new stake in shares of Banco Bradesco during the first quarter worth $27,372,000. Public Employees Retirement System of Ohio acquired a new stake in Banco Bradesco during the 4th quarter valued at $13,097,000. Finally, BNP Paribas Financial Markets raised its stake in Banco Bradesco by 431.3% during the 4th 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 period.

Banco Bradesco Stock Down 0.3%

Shares of NYSE BBD traded down $0.01 during mid-day trading on Monday, reaching $3.10. 29,247,962 shares of the company traded hands, compared to its average volume of 30,733,540. The stock has a market cap of $32.99 billion, a PE ratio of 8.86, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The company's fifty day moving average is $2.94 and its two-hundred day moving average is $2.60. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week 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 released its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, hitting analysts' consensus estimates of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. On average, analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be issued a $0.0035 dividend. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. Banco Bradesco's dividend payout ratio (DPR) is 5.71%.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the stock. 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 upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target 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.