Graham Capital Management L.P. Increases Position in Banco Bradesco S.A. (NYSE:BBD)

Graham Capital Management L.P. lifted its holdings in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 2,638.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 287,937 shares of the bank's stock after purchasing an additional 277,423 shares during the quarter. Graham Capital Management L.P.'s holdings in Banco Bradesco were worth $550,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. New York State Common Retirement Fund grew its position in Banco Bradesco by 85.5% in the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank's stock worth $7,519,000 after acquiring an additional 1,814,009 shares in the last quarter. DAVENPORT & Co LLC purchased a new position in Banco Bradesco in the fourth quarter worth about $66,000. BNP Paribas Financial Markets grew its position in Banco Bradesco by 431.3% in the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock worth $13,762,000 after acquiring an additional 5,848,994 shares in the last quarter. Banco Santander S.A. grew its position in Banco Bradesco by 402.4% in the fourth quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank's stock worth $3,443,000 after acquiring an additional 1,443,986 shares in the last quarter. Finally, Natixis Advisors LLC grew its holdings in Banco Bradesco by 1,334.2% during the 4th quarter. Natixis Advisors LLC now owns 3,759,101 shares of the bank's stock valued at $7,180,000 after purchasing an additional 3,496,994 shares during the last quarter.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Performance

NYSE:BBD traded up $0.05 during midday trading on Monday, hitting $2.79. The company's stock had a trading volume of 26,531,490 shares, compared to its average volume of 33,700,095. The firm has a market cap of $29.69 billion, a P/E ratio of 9.30, a P/E/G ratio of 0.32 and a beta of 0.65. The firm's 50 day moving average is $2.31 and its 200-day moving average is $2.17. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.96. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

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

Banco Bradesco Cuts Dividend

The firm also recently announced 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. This represents a dividend yield of 1.08%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's payout ratio is 6.25%.

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.