750,000 Shares in Banco Bradesco SA (NYSE:BBD) Purchased by Truffle Hound Capital LLC

Key Points

• Truffle Hound Capital LLC acquired 750,000 shares of Banco Bradesco SA valued at approximately $1.67 million in the first quarter.
• Several institutional investors have increased their stakes in Banco Bradesco, with notable raises from Traveka Wealth LLC and HighTower Advisors LLC.
• Banco Bradesco recently increased its dividend payout to $0.0023 per share, representing a significant yield of 99.0%, boosted from its previous dividend of $0.00.

Truffle Hound Capital LLC acquired a new position in Banco Bradesco SA (NYSE:BBD - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 750,000 shares of the bank's stock, valued at approximately $1,672,000.

Several other hedge funds have also added to or reduced their stakes in the stock. ARGA Investment Management LP raised its position in shares of Banco Bradesco by 53.0% in the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock valued at $282,595,000 after purchasing an additional 43,884,334 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Banco Bradesco by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after acquiring an additional 12,236,689 shares during the period. Wellington Management Group LLP increased its holdings in Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock worth $108,507,000 after acquiring an additional 9,762,964 shares during the period. Marshall Wace LLP increased its holdings in Banco Bradesco by 45.4% during the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock worth $52,988,000 after acquiring an additional 8,661,231 shares during the period. Finally, Public Employees Retirement System of Ohio bought a new stake in Banco Bradesco during the 4th quarter worth approximately $13,097,000.

Banco Bradesco Price Performance

BBD stock traded up $0.02 during midday trading on Monday, reaching $2.83. The company had a trading volume of 32,314,359 shares, compared to its average volume of 33,533,404. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.13. The company has a market capitalization of $30.12 billion, a P/E ratio of 8.09, a P/E/G ratio of 0.39 and a beta of 0.68. The firm has a 50-day moving average price of $2.93 and a 200-day moving average price of $2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 13.02%. The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $32.70 billion. On average, research analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm 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. This is a positive change from Banco Bradesco's previous dividend of $0.00. The ex-dividend date of this dividend is Tuesday, August 5th. This represents a dividend yield of 99.0%. Banco Bradesco's dividend payout ratio is currently 8.57%.

Analysts Set New Price Targets

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

Banco Bradesco Company 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.