Man Group plc bought a new position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The fund bought 90,643 shares of the bank's stock, valued at approximately $173,000.
Several other institutional investors also recently modified their holdings of BBD. Massachusetts Financial Services Co. MA grew its position in shares of Banco Bradesco by 13.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after purchasing an additional 12,236,689 shares during the period. ARGA Investment Management LP grew its position in shares of Banco Bradesco by 215.1% in the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after purchasing an additional 56,552,808 shares during the period. Wellington Management Group LLP grew its position in shares of Banco Bradesco by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after purchasing an additional 9,762,964 shares during the period. Arrowstreet Capital Limited Partnership grew its position in shares of Banco Bradesco by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after purchasing an additional 10,537,751 shares during the period. Finally, Franklin Resources Inc. lifted its stake in Banco Bradesco by 1.8% in the 4th quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank's stock valued at $87,499,000 after acquiring an additional 821,239 shares in the last quarter.
Analyst Upgrades and Downgrades
Several equities research analysts have commented on the company. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and decreased their price objective for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. Finally, Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a report on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, Banco Bradesco has an average rating of "Hold" and a consensus target price of $2.40.
Read Our Latest Analysis on Banco Bradesco
Banco Bradesco Price Performance
NYSE:BBD traded up $0.03 during trading hours on Monday, hitting $2.91. The company's stock had a trading volume of 67,708,719 shares, compared to its average volume of 34,894,136. The stock has a fifty day simple moving average of $2.45 and a 200-day simple moving average of $2.20. The company has a market capitalization of $30.97 billion, a P/E ratio of 9.70, a PEG ratio of 0.32 and a beta of 0.65. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.96.
Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, analysts anticipate that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.
Banco Bradesco Cuts Dividend
The company also recently declared a dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.0021 per share. This represents a dividend yield of 0.88%. The ex-dividend date is Wednesday, June 4th. Banco Bradesco's payout ratio is 6.25%.
Banco Bradesco Profile
(
Free Report)
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.
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