Public Employees Retirement System of Ohio Makes New Investment in Banco Bradesco S.A. (NYSE:BBD)

Public Employees Retirement System of Ohio bought a new position in Banco Bradesco S.A. (NYSE:BBD - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 6,856,950 shares of the bank's stock, valued at approximately $13,097,000. Public Employees Retirement System of Ohio owned 0.06% of Banco Bradesco as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Vident Advisory LLC raised its holdings in shares of Banco Bradesco by 87.3% during the 4th quarter. Vident Advisory LLC now owns 65,112 shares of the bank's stock valued at $124,000 after purchasing an additional 30,351 shares in the last quarter. Man Group plc acquired a new stake in shares of Banco Bradesco in the fourth quarter worth about $173,000. Millennium Management LLC boosted its stake in shares of Banco Bradesco by 28.9% during the 4th quarter. Millennium Management LLC now owns 5,323,711 shares of the bank's stock worth $10,168,000 after acquiring an additional 1,194,063 shares in the last quarter. Graham Capital Management L.P. increased its holdings in shares of Banco Bradesco by 2,638.6% during the 4th quarter. Graham Capital Management L.P. now owns 287,937 shares of the bank's stock valued at $550,000 after acquiring an additional 277,423 shares during the last quarter. Finally, Bayesian Capital Management LP lifted its holdings in Banco Bradesco by 67.6% in the 4th quarter. Bayesian Capital Management LP now owns 39,400 shares of the bank's stock worth $75,000 after purchasing an additional 15,885 shares during the last quarter.

Analysts Set New Price Targets

Several brokerages have recently issued reports on BBD. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Wednesday. Finally, The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price objective for the company from $2.40 to $2.00 in a research 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 issued a buy rating to the company. According to data from MarketBeat, Banco Bradesco presently has a consensus rating of "Hold" and an average price target of $2.40.

Banco Bradesco Trading Down 0.3%

Shares of BBD traded down $0.01 on Wednesday, reaching $2.86. 30,081,540 shares of the company's stock were exchanged, compared to its average volume of 34,461,218. The business has a 50 day moving average price of $2.40 and a two-hundred day moving average price of $2.19. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The stock has a market capitalization of $30.44 billion, a P/E ratio of 9.53, 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.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. The company had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $31.24 billion. Research 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. Shareholders of record on Wednesday, May 7th will be paid a $0.0022 dividend. The ex-dividend date is Tuesday, May 6th. This represents a yield of 1.08%. Banco Bradesco's payout ratio is currently 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.