Millennium Management LLC Raises Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Millennium Management LLC boosted its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 28.9% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,323,711 shares of the bank's stock after buying an additional 1,194,063 shares during the period. Millennium Management LLC owned 0.05% of Banco Bradesco worth $10,168,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the company. ARGA Investment Management LP increased its holdings in shares of Banco Bradesco by 215.1% in the fourth 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. Massachusetts Financial Services Co. MA increased its holdings in shares of Banco Bradesco by 13.9% in 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 purchasing an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Banco Bradesco by 26.2% in the fourth 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. Wellington Management Group LLP increased its holdings in shares of Banco Bradesco by 20.8% in the fourth 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. Finally, Marshall Wace LLP increased its holdings in shares of Banco Bradesco by 45.4% in the fourth quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock valued at $52,988,000 after purchasing an additional 8,661,231 shares during the period.

Banco Bradesco Price Performance

BBD traded up $0.05 during trading on Thursday, reaching $2.91. 8,236,811 shares of the stock were exchanged, compared to its average volume of 44,407,613. The business's 50 day moving average price is $2.41 and its two-hundred day moving average price is $2.19. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The company has a market capitalization of $30.92 billion, a price-to-earnings ratio of 9.68, a P/E/G ratio of 0.32 and a beta of 0.65. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.96.

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

Banco Bradesco Cuts Dividend

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

Analysts Set New Price Targets

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