Russell Investments Group Ltd. Grows Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Russell Investments Group Ltd. raised its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 2.0% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 24,275,443 shares of the bank’s stock after buying an additional 476,197 shares during the period. Russell Investments Group Ltd.’s holdings in Banco Bradesco were worth $84,964,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of BBD. Causeway Capital Management LLC lifted its position in shares of Banco Bradesco by 43.4% during the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock valued at $182,605,000 after buying an additional 19,404,902 shares during the last quarter. Massachusetts Financial Services Co. MA lifted its position in shares of Banco Bradesco by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,319,038 shares of the bank’s stock valued at $60,759,000 after buying an additional 5,624,225 shares during the last quarter. Itau Unibanco Holding S.A. lifted its position in shares of Banco Bradesco by 48.3% during the third quarter. Itau Unibanco Holding S.A. now owns 12,021,725 shares of the bank’s stock valued at $34,262,000 after buying an additional 3,914,265 shares during the last quarter. New York State Common Retirement Fund lifted its position in shares of Banco Bradesco by 202.8% during the third quarter. New York State Common Retirement Fund now owns 1,835,948 shares of the bank’s stock valued at $5,232,000 after buying an additional 1,229,660 shares during the last quarter. Finally, Oaktree Capital Management LP lifted its position in shares of Banco Bradesco by 3.0% during the third quarter. Oaktree Capital Management LP now owns 31,742,126 shares of the bank’s stock valued at $90,465,000 after buying an additional 926,807 shares during the last quarter.

Banco Bradesco Trading Up 2.6 %

Shares of BBD traded up $0.07 during mid-day trading on Friday, hitting $2.72. 13,985,243 shares of the company traded hands, compared to its average volume of 15,000,805. Banco Bradesco S.A. has a 1-year low of $2.60 and a 1-year high of $3.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50 day moving average of $2.80 and a 200 day moving average of $3.03.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 6th will be issued a $0.0036 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 annualized dividend and a yield of 1.59%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the stock. HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Jefferies Financial Group downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective on the stock in a report on Tuesday, February 20th.

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.