ARGA Investment Management LP Sells 37,510,354 Shares of Banco Bradesco SA $BBD

ARGA Investment Management LP lowered its stake in shares of Banco Bradesco SA (NYSE:BBD) by 33.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 75,139,939 shares of the bank’s stock after selling 37,510,354 shares during the quarter. Banco Bradesco comprises approximately 9.0% of ARGA Investment Management LP’s holdings, making the stock its 3rd largest holding. ARGA Investment Management LP’s holdings in Banco Bradesco were worth $274,261,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. EverSource Wealth Advisors LLC raised its stake in Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,353 shares during the last quarter. Brooklyn Investment Group grew its position in Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after purchasing an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC bought a new position in shares of Banco Bradesco during the 4th quarter worth about $39,000. Ballentine Partners LLC bought a new position in shares of Banco Bradesco during the 4th quarter worth about $41,000. Finally, GAMMA Investing LLC raised its position in shares of Banco Bradesco by 40.1% during the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after buying an additional 3,619 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, Banco Bradesco currently has an average rating of “Buy”.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $3.65 on Friday. The firm has a market capitalization of $38.73 billion, a PE ratio of 9.37, a PEG ratio of 0.43 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. Banco Bradesco SA has a 1-year low of $2.73 and a 1-year high of $4.30. The business’s 50 day moving average is $3.50 and its 200-day moving average is $3.68.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The business had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. Sell-side analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The firm also recently declared a dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, July 7th will be issued a $0.067 dividend. This represents a yield of 395.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Banco Bradesco’s payout ratio is 20.51%.

Banco Bradesco Profile

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.