Two Sigma Investments LP Has $21.92 Million Stake in Banco Bradesco S.A. (NYSE:BBD)

Two Sigma Investments LP cut its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 48.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,478,340 shares of the bank's stock after selling 10,581,661 shares during the period. Two Sigma Investments LP owned about 0.11% of Banco Bradesco worth $21,924,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Massachusetts Financial Services Co. MA increased its position in shares of Banco Bradesco by 13.9% during the fourth 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. ARGA Investment Management LP increased its position in shares of Banco Bradesco by 215.1% during the fourth 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. Wellington Management Group LLP increased its position in shares of Banco Bradesco by 20.8% during the fourth 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. Arrowstreet Capital Limited Partnership increased its position in shares of Banco Bradesco by 26.2% during the fourth 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. Finally, Franklin Resources Inc. increased its position in shares of Banco Bradesco by 1.8% during the fourth quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank's stock valued at $87,499,000 after purchasing an additional 821,239 shares during the period.

Analysts Set New Price Targets

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

Banco Bradesco Price Performance

NYSE:BBD traded up $0.05 during trading hours on Friday, reaching $2.81. The company had a trading volume of 66,694,266 shares, compared to its average volume of 34,400,303. The stock has a 50-day moving average of $2.37 and a two-hundred day moving average of $2.18. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.96. The firm has a market capitalization of $29.85 billion, a PE ratio of 9.35, a PEG ratio of 0.32 and a beta of 0.65. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The firm had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $31.24 billion. Analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

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