Arrowstreet Capital Limited Partnership trimmed its position in shares of Banco Bradesco SA (NYSE:BBD) by 18.0% during the fourth quarter, HoldingsChannel reports. The firm owned 10,204,888 shares of the bank’s stock after selling 2,241,935 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Banco Bradesco were worth $104,498,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BBD. Cutler Investment Counsel LLC purchased a new stake in shares of Banco Bradesco in the third quarter valued at $131,000. Empirical Finance LLC purchased a new stake in shares of Banco Bradesco in the third quarter valued at $144,000. Quantitative Systematic Strategies LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter valued at $151,000. Advisor Partners LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter valued at $161,000. Finally, Fox Run Management L.L.C. purchased a new stake in shares of Banco Bradesco in the third quarter valued at $183,000. Institutional investors own 2.80% of the company’s stock.
Several analysts have recently issued reports on BBD shares. Zacks Investment Research upgraded Banco Bradesco from a “sell” rating to a “hold” rating in a research report on Wednesday, November 8th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Citigroup upgraded Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. Finally, ValuEngine downgraded Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.20.
Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, February 1st. The bank reported $0.25 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Banco Bradesco had a return on equity of 17.44% and a net margin of 9.87%. The firm had revenue of $9.90 billion for the quarter, compared to the consensus estimate of $8.20 billion. analysts forecast that Banco Bradesco SA will post 0.96 EPS for the current fiscal year.
The firm also recently announced a special dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 4th will be given a dividend of $0.0058 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s dividend payout ratio is 7.91%.
About Banco Bradesco
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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