ARGA Investment Management LP Purchases 1,068,259 Shares of Banco Bradesco S.A. (NYSE:BBD)

ARGA Investment Management LP lifted its holdings in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 6.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,171,674 shares of the bank's stock after acquiring an additional 1,068,259 shares during the quarter. Banco Bradesco accounts for about 2.1% of ARGA Investment Management LP's holdings, making the stock its 14th largest position. ARGA Investment Management LP's holdings in Banco Bradesco were worth $60,101,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of BBD. Causeway Capital Management LLC increased its stake in shares of Banco Bradesco by 43.4% during the 3rd quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank's stock worth $182,605,000 after purchasing an additional 19,404,902 shares during the last quarter. Massachusetts Financial Services Co. MA raised its stake in shares of Banco Bradesco by 51.1% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank's stock valued at $112,715,000 after buying an additional 10,885,211 shares during the period. Itau Unibanco Holding S.A. lifted its position in shares of Banco Bradesco by 48.3% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 12,021,725 shares of the bank's stock valued at $34,262,000 after buying an additional 3,914,265 shares during the last quarter. New York State Common Retirement Fund grew its stake in shares of Banco Bradesco by 202.8% during the 3rd quarter. New York State Common Retirement Fund now owns 1,835,948 shares of the bank's stock worth $5,232,000 after acquiring an additional 1,229,660 shares during the period. Finally, Oaktree Capital Management LP increased its holdings in Banco Bradesco by 3.0% in the 3rd quarter. Oaktree Capital Management LP now owns 31,742,126 shares of the bank's stock worth $90,465,000 after acquiring an additional 926,807 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.02 during mid-day trading on Thursday, hitting $2.61. The company had a trading volume of 8,516,910 shares, compared to its average volume of 17,275,025. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Banco Bradesco S.A. has a 1 year low of $2.58 and a 1 year high of $3.68. The company has a market capitalization of $27.77 billion, a price-to-earnings ratio of 11.35 and a beta of 0.96. The stock's 50-day moving average price is $2.76 and its 200-day moving average price is $3.02.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, topping the consensus estimate of $0.07 by $0.01. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. The business had revenue of $9.64 billion during the quarter. On average, sell-side analysts forecast that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 9th. Investors of record on Wednesday, June 5th will be paid a dividend of $0.0037 per share. The ex-dividend date is Wednesday, June 5th. This represents a $0.04 annualized dividend and a yield of 1.70%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is currently 13.04%.

Analyst Ratings Changes

BBD has been the topic of several recent research reports. The Goldman Sachs Group raised shares of Banco Bradesco from a "sell" rating to a "neutral" rating and set a $2.80 price objective on the stock in a report on Tuesday, February 20th. Jefferies Financial Group lowered shares of Banco Bradesco from a "buy" rating to a "hold" rating in a research report on Friday, February 9th.

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.