450,000 Shares in Banco Bradesco S.A. (NYSE:BBD) Purchased by Monaco Asset Management SAM

Monaco Asset Management SAM purchased a new position in Banco Bradesco S.A. (NYSE:BBD - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 450,000 shares of the bank's stock, valued at approximately $860,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. HighTower Advisors LLC raised its holdings in Banco Bradesco by 27.2% during the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in Banco Bradesco by 5.4% during the fourth quarter. PNC Financial Services Group Inc. now owns 214,322 shares of the bank's stock worth $409,000 after purchasing an additional 10,938 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. acquired a new stake in Banco Bradesco during the fourth quarter worth approximately $507,000. Banco Santander S.A. raised its holdings in Banco Bradesco by 402.4% during the fourth quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank's stock worth $3,443,000 after purchasing an additional 1,443,986 shares in the last quarter. Finally, Vestmark Advisory Solutions Inc. raised its holdings in Banco Bradesco by 135.3% during the fourth quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank's stock worth $53,000 after purchasing an additional 15,911 shares in the last quarter.

Analyst Ratings Changes

BBD has been the topic of a number of research analyst reports. JPMorgan Chase & Co. cut shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a report on Monday, November 25th. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and cut their target price for the company from $2.40 to $2.00 in a report on Wednesday, February 12th.

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Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded down $0.01 during trading on Tuesday, reaching $2.21. The company's stock had a trading volume of 41,547,115 shares, compared to its average volume of 29,459,571. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The firm has a market cap of $23.47 billion, a PE ratio of 7.35, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a 50-day moving average price of $2.04 and a two-hundred day moving average price of $2.28. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.98.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

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

Banco Bradesco 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.