ARGA Investment Management LP Sells 12,315,495 Shares of Banco Bradesco SA $BBD

ARGA Investment Management LP decreased its position in Banco Bradesco SA (NYSE:BBD) by 9.7% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 114,499,547 shares of the bank’s stock after selling 12,315,495 shares during the period. Banco Bradesco makes up 10.3% of ARGA Investment Management LP’s portfolio, making the stock its largest position. ARGA Investment Management LP owned approximately 1.08% of Banco Bradesco worth $387,008,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Samalin Investment Counsel LLC bought a new position in Banco Bradesco during the third quarter worth about $170,000. Gould Asset Management LLC CA raised its position in shares of Banco Bradesco by 5.8% during the third quarter. Gould Asset Management LLC CA now owns 76,976 shares of the bank’s stock worth $260,000 after purchasing an additional 4,200 shares during the period. SG Americas Securities LLC lifted its holdings in shares of Banco Bradesco by 249.3% during the 3rd quarter. SG Americas Securities LLC now owns 58,077 shares of the bank’s stock valued at $196,000 after purchasing an additional 41,449 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of Banco Bradesco by 1,595.2% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 789,906 shares of the bank’s stock valued at $2,670,000 after purchasing an additional 743,308 shares during the period. Finally, PDS Planning Inc increased its stake in Banco Bradesco by 11.1% during the 3rd quarter. PDS Planning Inc now owns 37,354 shares of the bank’s stock worth $126,000 after purchasing an additional 3,736 shares in the last quarter.

Banco Bradesco Trading Up 2.5%

NYSE BBD opened at $3.96 on Friday. Banco Bradesco SA has a 52 week low of $1.92 and a 52 week high of $3.98. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. The stock’s 50 day moving average price is $3.48 and its two-hundred day moving average price is $3.26. The stock has a market capitalization of $41.08 billion, a price-to-earnings ratio of 11.30, a PEG ratio of 0.36 and a beta of 0.54.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 30th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 12.95%. The business had revenue of $3.91 billion during the quarter, compared to analyst estimates of $34.75 billion. As a group, analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be paid a dividend of $0.0035 per share. The ex-dividend date is Wednesday, February 4th. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 8.57%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Three equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, Banco Bradesco currently has an average rating of “Moderate Buy” and a consensus price target of $2.00.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.