Quantbot Technologies LP Has $2.76 Million Holdings in Banco Bradesco SA $BBD

Key Points

• Quantbot Technologies LP increased its stake in Banco Bradesco SA by 116.7%, holding 1,238,707 shares valued at approximately $2.76 million after purchasing additional shares in the first quarter.
• Multiple institutional investors have also expanded their positions in Banco Bradesco, with ARGA Investment Management increasing its holding by 53.0%, now totaling $282.6 million.
• Banco Bradesco recently declared a dividend of $0.0023 per share, reflecting a significant increase from a previous dividend of $0.00, and demonstrating a 99.0% yield.

Quantbot Technologies LP increased its position in Banco Bradesco SA (NYSE:BBD - Free Report) by 116.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,238,707 shares of the bank's stock after buying an additional 667,089 shares during the quarter. Quantbot Technologies LP's holdings in Banco Bradesco were worth $2,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. ARGA Investment Management LP boosted its holdings in Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after acquiring an additional 43,884,334 shares during the period. Massachusetts Financial Services Co. MA boosted its stake in Banco Bradesco by 3.5% in the first quarter. Massachusetts Financial Services Co. MA now owns 103,749,417 shares of the bank's stock valued at $231,361,000 after acquiring an additional 3,547,203 shares during the period. Wellington Management Group LLP increased its position in Banco Bradesco by 22.7% in the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after buying an additional 12,873,188 shares during the period. Moerus Capital Management LLC acquired a new stake in Banco Bradesco in the first quarter worth $27,372,000. Finally, Natixis Advisors LLC lifted its stake in Banco Bradesco by 148.2% in the first quarter. Natixis Advisors LLC now owns 9,331,197 shares of the bank's stock valued at $20,809,000 after buying an additional 5,572,096 shares during the last quarter.

Banco Bradesco Stock Performance

BBD traded down $0.02 during midday trading on Tuesday, reaching $2.99. The company's stock had a trading volume of 30,041,879 shares, compared to its average volume of 33,531,450. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13. The company has a fifty day simple moving average of $2.93 and a 200 day simple moving average of $2.58. The stock has a market cap of $31.77 billion, a P/E ratio of 8.53, a PEG ratio of 0.41 and a beta of 0.68.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a dividend, which will be paid on Thursday, September 11th. Investors of record on Wednesday, August 6th will be given a $0.0023 dividend. This represents a yield of 99.0%. This is a boost from Banco Bradesco's previous dividend of $0.00. The ex-dividend date of this dividend is Tuesday, August 5th. Banco Bradesco's dividend payout ratio (DPR) is currently 8.57%.

Wall Street Analyst Weigh In

BBD has been the subject of several recent analyst reports. Bank of America upgraded 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 "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company currently 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.