Two Sigma Advisers LP Reduces Position in Banco Bradesco S.A. (NYSE:BBD)

Two Sigma Advisers LP cut its stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 9.1% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 15,313,620 shares of the bank's stock after selling 1,537,600 shares during the period. Two Sigma Advisers LP owned about 0.14% of Banco Bradesco worth $29,249,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank's stock valued at $731,000 after purchasing an additional 166,008 shares during the period. SG Americas Securities LLC purchased a new position in shares of Banco Bradesco during the 4th quarter worth $68,000. Blue Trust Inc. grew its position in shares of Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after acquiring an additional 8,801 shares during the period. R Squared Ltd purchased a new stake in shares of Banco Bradesco in the 4th quarter worth $30,000. Finally, Robeco Institutional Asset Management B.V. raised its holdings in Banco Bradesco by 4.4% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,032,246 shares of the bank's stock worth $5,792,000 after purchasing an additional 127,225 shares during the period.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BBD. The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th.

Banco Bradesco Price Performance

Shares of BBD traded up $0.05 during midday trading on Monday, hitting $2.81. 66,694,266 shares of the company traded hands, compared to its average volume of 34,400,303. Banco Bradesco S.A. has a 52 week low of $1.84 and a 52 week high of $2.96. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The firm has a 50 day moving average of $2.37 and a 200-day moving average of $2.18. The stock has a market cap of $29.85 billion, a price-to-earnings ratio of 9.35, a PEG ratio of 0.32 and a beta of 0.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last released 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 business had revenue of $5.69 billion during the quarter, compared to analysts' expectations of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Investors of record on Wednesday, May 7th will be given a $0.0022 dividend. This represents a yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is presently 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.