Cerity Partners LLC Invests $129,000 in Banco Bradesco SA (NYSE:BBD)

Cerity Partners LLC acquired a new position in Banco Bradesco SA (NYSE:BBD) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 58,036 shares of the bank’s stock, valued at approximately $129,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. ARGA Investment Management LP increased its position in shares of Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank’s stock valued at $282,595,000 after acquiring an additional 43,884,334 shares during the period. Massachusetts Financial Services Co. MA increased its holdings in Banco Bradesco by 13.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank’s stock worth $191,386,000 after buying an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership raised its position in Banco Bradesco by 26.2% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank’s stock worth $97,079,000 after buying an additional 10,537,751 shares during the last quarter. Wellington Management Group LLP lifted its stake in Banco Bradesco by 20.8% during the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank’s stock valued at $108,507,000 after acquiring an additional 9,762,964 shares during the period. Finally, Marshall Wace LLP boosted its holdings in shares of Banco Bradesco by 45.4% in the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank’s stock valued at $52,988,000 after acquiring an additional 8,661,231 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on BBD shares. Bank of America raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, May 8th. Citigroup upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $2.40.

Banco Bradesco Trading Up 0.9%

Shares of Banco Bradesco stock opened at $2.78 on Wednesday. The firm has a 50-day simple moving average of $2.93 and a two-hundred day simple moving average of $2.46. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week high of $3.13. The company has a market cap of $29.53 billion, a P/E ratio of 8.67, a price-to-earnings-growth ratio of 0.40 and a beta of 0.71.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. As a group, equities analysts predict 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 dividend, which will be paid on Thursday, September 11th. Investors of record on Wednesday, August 6th will be paid a $0.0023 dividend. The ex-dividend date is Tuesday, August 5th. This is a positive change from Banco Bradesco’s previous dividend of $0.00. This represents a yield of 0.99%. Banco Bradesco’s dividend payout ratio (DPR) is currently 9.38%.

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.