Renaissance Technologies LLC Purchases 2,392,276 Shares of Banco Bradesco S.A. (NYSE:BBD)

Renaissance Technologies LLC increased its position in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 25.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,854,571 shares of the bank's stock after acquiring an additional 2,392,276 shares during the quarter. Renaissance Technologies LLC owned 0.11% of Banco Bradesco worth $22,642,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Massachusetts Financial Services Co. MA lifted its holdings in shares of Banco Bradesco by 13.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after purchasing an additional 12,236,689 shares in the last quarter. ARGA Investment Management LP grew its stake in Banco Bradesco by 215.1% during the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank's stock valued at $158,224,000 after acquiring an additional 56,552,808 shares in the last quarter. Wellington Management Group LLP grew 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 in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Banco Bradesco by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock worth $97,079,000 after purchasing an additional 10,537,751 shares in the last quarter. Finally, Franklin Resources Inc. boosted its holdings in shares of Banco Bradesco by 1.8% during the fourth quarter. Franklin Resources Inc. now owns 45,810,825 shares of the bank's stock worth $87,499,000 after purchasing an additional 821,239 shares during the period.

Banco Bradesco Stock Up 0.7 %

BBD stock traded up $0.02 during trading hours on Friday, hitting $2.22. The company's stock had a trading volume of 25,042,858 shares, compared to its average volume of 31,761,944. The company has a market capitalization of $23.57 billion, a PE ratio of 7.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56. The stock has a 50 day moving average price of $2.14 and a two-hundred day moving average price of $2.20. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a 12 month low of $1.84 and a 12 month high of $2.96.

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

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.0398 per share. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 21.53%. Banco Bradesco's dividend payout ratio is currently 6.67%.

Wall Street Analysts Forecast Growth

BBD has been the topic of several research reports. The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and dropped their price objective for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

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.