Two Sigma Investments LP Sells 10,581,661 Shares of Banco Bradesco S.A. (NYSE:BBD)

Two Sigma Investments LP lowered its stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 48.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,478,340 shares of the bank's stock after selling 10,581,661 shares during the quarter. Two Sigma Investments LP owned 0.11% of Banco Bradesco worth $21,924,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. ARGA Investment Management LP grew its stake in 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 purchasing an additional 56,552,808 shares during the period. Massachusetts Financial Services Co. MA grew its stake in 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 purchasing an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in 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 purchasing an additional 10,537,751 shares during the period. Wellington Management Group LLP grew its stake in 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 purchasing an additional 9,762,964 shares during the period. Finally, Marshall Wace LLP grew its stake in 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 purchasing an additional 8,661,231 shares during the period.

Banco Bradesco Stock Performance

NYSE:BBD traded up $0.07 during trading on Tuesday, reaching $2.87. The company's stock had a trading volume of 10,632,426 shares, compared to its average volume of 34,326,028. 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 market cap of $30.49 billion, a price-to-earnings ratio of 9.52, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The firm has a 50 day moving average of $2.38 and a 200-day moving average of $2.18.

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, hitting the consensus estimate of $0.09. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Research analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently declared a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be paid a dividend of $0.0022 per share. The ex-dividend date is Tuesday, May 6th. This represents a dividend yield of 1.08%. Banco Bradesco's payout ratio is 6.25%.

Wall Street Analysts Forecast Growth

BBD has been the subject of a number of recent analyst reports. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price objective for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th.

About Banco Bradesco

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.