Pinebridge Investments L.P. Acquires 201,879 Shares of Banco Bradesco S.A. (NYSE:BBD)

Pinebridge Investments L.P. lifted its stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 39.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 718,984 shares of the bank's stock after purchasing an additional 201,879 shares during the quarter. Pinebridge Investments L.P.'s holdings in Banco Bradesco were worth $1,373,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the company. R Squared Ltd acquired a new position in shares of Banco Bradesco during the fourth quarter worth approximately $30,000. Traveka Wealth LLC bought a new stake in Banco Bradesco during the fourth quarter worth $31,000. Peapack Gladstone Financial Corp grew its stake in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after acquiring an additional 6,000 shares in the last quarter. 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 last quarter. Finally, Stifel Financial Corp bought a new stake in Banco Bradesco during the fourth quarter worth $39,000.

Banco Bradesco Price Performance

NYSE BBD traded down $0.01 on Friday, reaching $2.41. 33,239,948 shares of the company's stock traded hands, compared to its average volume of 32,288,325. 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 S.A. has a 12 month low of $1.84 and a 12 month high of $2.96. The stock has a 50-day simple moving average of $2.18 and a 200 day simple moving average of $2.17. The stock has a market cap of $25.65 billion, a PE ratio of 8.03, a P/E/G ratio of 0.32 and a beta of 0.56.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 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%. As a group, research analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a yield of 1.08%. Banco Bradesco's payout ratio is 6.67%.

Analyst Upgrades and Downgrades

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

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.