JPMorgan Chase & Co. Buys 522,597 Shares of Banco Bradesco S.A. (NYSE:BBD)

JPMorgan Chase & Co. raised its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 190.2% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 797,387 shares of the bank's stock after buying an additional 522,597 shares during the quarter. JPMorgan Chase & Co.'s holdings in Banco Bradesco were worth $1,523,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. R Squared Ltd purchased a new position in Banco Bradesco during the 4th quarter valued at about $30,000. Traveka Wealth LLC acquired a new position in Banco Bradesco in the 4th quarter valued at approximately $31,000. Blue Trust Inc. increased its stake in Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after buying an additional 8,801 shares during the period. HighTower Advisors LLC boosted its stake in shares of Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock valued at $48,000 after buying an additional 5,421 shares during the period. Finally, Vestmark Advisory Solutions Inc. increased its stake in shares of Banco Bradesco by 135.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank's stock worth $53,000 after acquiring an additional 15,911 shares during the last quarter.

Banco Bradesco Stock Down 1.4 %

NYSE BBD traded down $0.04 during trading on Thursday, hitting $2.43. 1,113,843 shares of the company traded hands, compared to its average volume of 32,126,781. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The business has a fifty day simple moving average of $2.17 and a 200 day simple moving average of $2.18. The company has a market capitalization of $25.81 billion, a P/E ratio of 8.08, a PEG ratio of 0.32 and a beta of 0.56. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, sell-side analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be given a dividend of $0.0022 per share. This represents a yield of 1.08%. The ex-dividend date is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is 6.67%.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company in a research report on Monday, January 13th. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and dropped their price objective for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

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.