Arrowstreet Capital Limited Partnership Has $290.20 Million Stock Position in Banco Bradesco SA $BBD

Arrowstreet Capital Limited Partnership lessened its holdings in Banco Bradesco SA (NYSE:BBD) by 3.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 79,507,406 shares of the bank’s stock after selling 2,655,854 shares during the period. Arrowstreet Capital Limited Partnership owned 0.75% of Banco Bradesco worth $290,202,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of BBD. Moerus Capital Management LLC boosted its position in shares of Banco Bradesco by 1.3% during the 1st quarter. Moerus Capital Management LLC now owns 8,407,720 shares of the bank’s stock worth $30,688,000 after acquiring an additional 103,900 shares in the last quarter. Sei Investments Co. boosted its position in Banco Bradesco by 3.4% during the 1st quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock worth $70,434,000 after buying an additional 641,744 shares during the period. Cetera Investment Advisers grew its stake in shares of Banco Bradesco by 16.7% in the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock worth $90,000 after purchasing an additional 3,519 shares during the last quarter. First Trust Advisors LP increased its position in shares of Banco Bradesco by 14.2% during the first quarter. First Trust Advisors LP now owns 94,747 shares of the bank’s stock worth $346,000 after buying an additional 11,772 shares during the period. Finally, Barometer Capital Management Inc. increased its stake in shares of Banco Bradesco by 4,953.2% in the 1st quarter. Barometer Capital Management Inc. now owns 560,900 shares of the bank’s stock valued at $2,012,000 after acquiring an additional 549,800 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.60 on Friday. Banco Bradesco SA has a 52 week low of $2.73 and a 52 week high of $4.30. The firm has a market capitalization of $38.10 billion, a PE ratio of 9.22, a P/E/G ratio of 0.45 and a beta of 0.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17. The company has a 50 day moving average price of $3.48 and a 200-day moving average price of $3.70.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The company had revenue of $1.50 billion during the quarter. As a group, equities research analysts expect that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be issued a $0.0037 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s payout ratio is presently 5.13%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat, Banco Bradesco currently has a consensus rating of “Buy”.

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.