Public Employees Retirement System of Ohio Takes Position in Banco Bradesco S.A. (NYSE:BBD)

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

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ARGA Investment Management LP raised its position in shares of Banco Bradesco by 215.1% in the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after buying an additional 56,552,808 shares in the last quarter. Massachusetts Financial Services Co. MA raised its position in shares of Banco Bradesco by 13.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after buying an additional 12,236,689 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its position in shares of Banco Bradesco by 26.2% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after buying an additional 10,537,751 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Banco Bradesco by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock valued at $108,507,000 after buying an additional 9,762,964 shares in the last quarter. Finally, Marshall Wace LLP raised its position in shares of Banco Bradesco by 45.4% in the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock valued at $52,988,000 after buying an additional 8,661,231 shares in the last quarter.

Banco Bradesco Stock Down 1.2%

BBD traded down $0.04 during trading on Friday, hitting $2.85. 23,923,017 shares of the company's stock were exchanged, compared to its average volume of 34,471,774. The business's 50 day moving average is $2.42 and its two-hundred day moving average is $2.19. The stock has a market cap of $30.28 billion, a P/E ratio of 9.48, a PEG ratio of 0.32 and a beta of 0.65. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.96.

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 for the quarter, meeting the consensus estimate of $0.09. The company had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, equities analysts expect 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. 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 dividend payout ratio is presently 6.25%.

Analyst Ratings Changes

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

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.