Millennium Management LLC Acquires 1,194,063 Shares of Banco Bradesco S.A. (NYSE:BBD)

Millennium Management LLC grew its position in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 28.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,323,711 shares of the bank's stock after purchasing an additional 1,194,063 shares during the quarter. Millennium Management LLC owned approximately 0.05% of Banco Bradesco worth $10,168,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA grew its stake in Banco Bradesco by 13.9% during the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after acquiring an additional 12,236,689 shares in the last quarter. ARGA Investment Management LP grew its stake in Banco Bradesco by 215.1% during the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after acquiring an additional 56,552,808 shares in the last quarter. Wellington Management Group LLP grew its stake in Banco Bradesco by 20.8% during the fourth quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after acquiring an additional 9,762,964 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its stake in Banco Bradesco by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after acquiring an additional 10,537,751 shares in the last quarter. Finally, Franklin Resources Inc. grew its stake in Banco Bradesco by 1.8% during the fourth 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.

Banco Bradesco Trading Down 0.2%

Shares of BBD stock traded down $0.01 during trading hours on Wednesday, reaching $2.87. 28,076,601 shares of the stock were exchanged, compared to its average volume of 44,759,262. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $2.96. 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's 50-day moving average price is $2.40 and its 200-day moving average price is $2.19. The firm has a market capitalization of $30.49 billion, a price-to-earnings ratio of 9.55, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (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 business had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $31.24 billion. As a group, equities 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. Stockholders of record on Wednesday, May 7th will be issued a $0.0022 dividend. The ex-dividend date is Tuesday, May 6th. This represents a dividend yield of 1.08%. Banco Bradesco's dividend payout ratio is currently 6.25%.

Analyst Ratings Changes

BBD has been the subject of several research analyst reports. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average 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.