Man Group plc Invests $173,000 in Banco Bradesco S.A. (NYSE:BBD)

Man Group plc bought a new position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 90,643 shares of the bank's stock, valued at approximately $173,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund increased its stake in shares of Banco Bradesco by 85.5% during the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank's stock worth $7,519,000 after purchasing an additional 1,814,009 shares in the last quarter. Northern Trust Corp boosted its stake in shares of Banco Bradesco by 11.4% in the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock valued at $7,864,000 after buying an additional 421,994 shares during the period. DAVENPORT & Co LLC acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $66,000. BNP Paribas Financial Markets increased its position in Banco Bradesco by 431.3% during the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock worth $13,762,000 after buying an additional 5,848,994 shares during the period. Finally, Banco Santander S.A. increased its position in Banco Bradesco by 402.4% in the 4th quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank's stock valued at $3,443,000 after acquiring an additional 1,443,986 shares during the period.

Banco Bradesco Stock Performance

BBD stock traded down $0.01 during trading on Friday, reaching $2.87. 59,390,015 shares of the stock were exchanged, compared to its average volume of 34,719,040. Banco Bradesco S.A. has a twelve month low of $1.84 and a twelve month high of $2.96. The company has a market capitalization of $30.54 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The stock has a 50 day simple moving average of $2.42 and a 200-day simple moving average of $2.19.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. As a group, sell-side analysts anticipate that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 7th will be paid a $0.0022 dividend. This represents a yield of 1.08%. The ex-dividend date is Tuesday, May 6th. Banco Bradesco's dividend payout ratio (DPR) is presently 6.25%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and dropped their price target for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $2.40.

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.