Banco Bradesco S.A. (NYSE:BBD) Shares Acquired by Millennium Management LLC

Millennium Management LLC lifted its holdings in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 28.9% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,323,711 shares of the bank's stock after acquiring an additional 1,194,063 shares during the quarter. Millennium Management LLC owned 0.05% of Banco Bradesco worth $10,168,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in Banco Bradesco during the fourth quarter worth $30,000. Peapack Gladstone Financial Corp boosted its holdings in Banco Bradesco by 54.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after buying an additional 6,000 shares in the last quarter. Blue Trust Inc. boosted its holdings in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after buying an additional 8,801 shares in the last quarter. Stifel Financial Corp purchased a new stake in Banco Bradesco during the fourth quarter worth $39,000. Finally, HighTower Advisors LLC boosted its holdings in Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after buying an additional 5,421 shares in the last quarter.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on BBD. The Goldman Sachs Group downgraded shares of Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price target for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th.

Banco Bradesco Price Performance

BBD traded up $0.07 during midday trading on Tuesday, hitting $2.87. 31,552,745 shares of the company traded hands, compared to its average volume of 34,388,913. 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 company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 9.55, a PEG ratio of 0.32 and a beta of 0.65. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $2.96. The business has a 50 day simple moving average of $2.38 and a two-hundred day simple moving average of $2.18.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, equities analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

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

Banco Bradesco 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.