Banco Bradesco SA $BBD Position Boosted by Quantbot Technologies LP

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 stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 116.7% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

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

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a report 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. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, Banco Bradesco has a consensus rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Price Performance

Shares of NYSE:BBD traded up $0.0950 during trading on Friday, reaching $2.9850. The company had a trading volume of 38,244,383 shares, compared to its average volume of 33,860,696. The firm's fifty day moving average is $2.94 and its 200 day moving average is $2.57. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $31.77 billion, a PE ratio of 8.53, a price-to-earnings-growth ratio of 0.41 and a beta of 0.68. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. On average, equities analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

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

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.