Banco Bradesco SA $BBD Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in Banco Bradesco SA (NYSE:BBD) by 0.9% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 62,468,078 shares of the bank’s stock after selling 595,391 shares during the period. Arrowstreet Capital Limited Partnership owned about 0.59% of Banco Bradesco worth $193,026,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Fisher Asset Management LLC raised its position in Banco Bradesco by 18.4% in the 2nd quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank’s stock valued at $272,225,000 after purchasing an additional 13,682,255 shares in the last quarter. Wellington Management Group LLP raised its position in shares of Banco Bradesco by 22.7% during the 1st quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank’s stock worth $155,393,000 after acquiring an additional 12,873,188 shares in the last quarter. Franklin Resources Inc. boosted its holdings in Banco Bradesco by 1.9% in the second quarter. Franklin Resources Inc. now owns 48,199,044 shares of the bank’s stock valued at $148,935,000 after purchasing an additional 907,612 shares in the last quarter. Itau Unibanco Holding S.A. raised its holdings in Banco Bradesco by 34.0% during the second quarter. Itau Unibanco Holding S.A. now owns 35,204,316 shares of the bank’s stock worth $108,781,000 after purchasing an additional 8,938,200 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its stake in Banco Bradesco by 116.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after acquiring an additional 17,853,712 shares in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, November 26th. Four analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, Banco Bradesco has an average rating of “Moderate Buy” and an average price target of $2.40.

Banco Bradesco Trading Up 1.2%

NYSE:BBD opened at $3.67 on Wednesday. The stock has a market capitalization of $39.00 billion, a price-to-earnings ratio of 10.47, a PEG ratio of 0.40 and a beta of 0.57. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.77. The stock has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.13. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%.The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $34.75 billion. As a group, sell-side analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be given a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 8.57%.

Banco Bradesco Company 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.