Banco Bradesco S.A. (NYSE:BBD) Stake Raised by ARGA Investment Management LP

ARGA Investment Management LP increased its stake in Banco Bradesco S.A. (NYSE:BBD) by 215.1% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 82,839,944 shares of the bank’s stock after purchasing an additional 56,552,808 shares during the quarter. Banco Bradesco accounts for 5.2% of ARGA Investment Management LP’s investment portfolio, making the stock its 6th largest position. ARGA Investment Management LP owned approximately 0.78% of Banco Bradesco worth $158,224,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also made changes to their positions in BBD. Franklin Resources Inc. increased its holdings in Banco Bradesco by 2.6% in the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock valued at $120,122,000 after buying an additional 1,139,470 shares in the last quarter. State Street Corp increased its stake in Banco Bradesco by 71.0% in the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock valued at $42,715,000 after purchasing an additional 6,551,698 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Banco Bradesco by 152.6% in the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock valued at $731,000 after purchasing an additional 166,008 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Banco Bradesco during the third quarter worth $104,542,000. Finally, Robeco Institutional Asset Management B.V. boosted its position in Banco Bradesco by 4.4% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 3,032,246 shares of the bank’s stock worth $5,792,000 after purchasing an additional 127,225 shares in the last quarter.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BBD shares. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group lowered their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday, January 10th.

Banco Bradesco Stock Up 0.2 %

Shares of NYSE:BBD opened at $2.13 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $22.61 billion, a P/E ratio of 8.17, a P/E/G ratio of 0.26 and a beta of 0.94. Banco Bradesco S.A. has a 52-week low of $1.84 and a 52-week high of $3.36. The stock’s fifty day simple moving average is $2.00 and its 200-day simple moving average is $2.38.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be issued a $0.0031 dividend. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.04 dividend on an annualized basis and a yield of 1.75%. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

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.