Algebris UK Ltd Takes $14.11 Million Position in Banco Bradesco S.A. (NYSE:BBD)

Algebris UK Ltd bought a new stake in Banco Bradesco S.A. (NYSE:BBD) during the 4th quarter, HoldingsChannel.com reports. The firm bought 7,649,330 shares of the bank’s stock, valued at approximately $14,111,000. Banco Bradesco comprises approximately 3.6% of Algebris UK Ltd’s holdings, making the stock its 11th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Insigneo Advisory Services LLC lifted its position in shares of Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock valued at $59,000 after acquiring an additional 4,260 shares in the last quarter. HighTower Advisors LLC lifted its position in shares of Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock valued at $48,000 after acquiring an additional 5,421 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Banco Bradesco by 37.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock valued at $54,000 after acquiring an additional 7,400 shares in the last quarter. Atria Investments Inc lifted its position in shares of Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock valued at $117,000 after acquiring an additional 8,641 shares in the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Banco Bradesco by 78.2% in the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after acquiring an additional 8,801 shares in the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.21 on Wednesday. Banco Bradesco S.A. has a one year low of $1.84 and a one year high of $2.98. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 7.35, a PEG ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The business’s 50 day moving average price is $2.04 and its 200 day moving average price is $2.28.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, research analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Friday, March 7th. This represents a $0.04 annualized dividend and a yield of 1.78%. Banco Bradesco’s dividend payout ratio (DPR) is 6.67%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BBD shares. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research report on Monday, January 13th. Finally, The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price objective for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th.

About Banco Bradesco

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.