New York State Common Retirement Fund Grows Position in Banco Bradesco SA (NYSE:BBD)

New York State Common Retirement Fund boosted its holdings in Banco Bradesco SA (NYSE:BBD - Free Report) by 66.9% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,569,176 shares of the bank's stock after acquiring an additional 2,632,634 shares during the period. New York State Common Retirement Fund owned 0.06% of Banco Bradesco worth $14,649,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Simplicity Wealth LLC bought a new position in Banco Bradesco during the 1st quarter worth $26,000. BSW Wealth Partners bought a new position in Banco Bradesco during the 1st quarter worth $29,000. Peapack Gladstone Financial Corp increased its position in Banco Bradesco by 54.5% during the 4th 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 during the period. Merit Financial Group LLC bought a new position in Banco Bradesco during the 1st quarter worth $37,000. Finally, Stifel Financial Corp bought a new position in shares of Banco Bradesco in the fourth quarter worth $39,000.

Analysts Set New Price Targets

Several analysts recently weighed in on BBD shares. Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, Banco Bradesco currently has a consensus rating of "Hold" and a consensus target price of $2.40.

Banco Bradesco Stock Down 2.4%

Shares of NYSE BBD traded down $0.07 during midday trading on Friday, hitting $2.81. 33,702,218 shares of the stock traded hands, compared to its average volume of 37,449,149. The company has a market cap of $29.90 billion, a PE ratio of 8.78, a P/E/G ratio of 0.41 and a beta of 0.71. Banco Bradesco SA has a one year low of $1.84 and a one year high of $3.13. The business has a 50 day moving average price of $2.92 and a two-hundred day moving average price of $2.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. The company had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $31.24 billion. On average, equities analysts predict that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.0351 per share. The ex-dividend date is Wednesday, July 2nd. This represents a dividend yield of 4.7%. Banco Bradesco's dividend payout ratio is presently 6.25%.

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.