Pinebridge Investments L.P. Sells 153,416 Shares of Banco Bradesco S.A. (NYSE:BBD)

Pinebridge Investments L.P. lowered its stake in shares of Banco Bradesco S.A. (NYSE:BBDFree Report) by 14.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 913,067 shares of the bank’s stock after selling 153,416 shares during the period. Pinebridge Investments L.P.’s holdings in Banco Bradesco were worth $3,196,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Causeway Capital Management LLC increased its holdings in shares of Banco Bradesco by 43.4% in the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock valued at $182,605,000 after purchasing an additional 19,404,902 shares during the last quarter. Massachusetts Financial Services Co. MA grew its stake in Banco Bradesco by 51.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock valued at $112,715,000 after buying an additional 10,885,211 shares during the last quarter. Oaktree Capital Management LP raised its holdings in Banco Bradesco by 3.0% in the 3rd quarter. Oaktree Capital Management LP now owns 31,742,126 shares of the bank’s stock valued at $90,465,000 after acquiring an additional 926,807 shares during the period. Russell Investments Group Ltd. lifted its position in Banco Bradesco by 2.0% during the fourth quarter. Russell Investments Group Ltd. now owns 24,275,443 shares of the bank’s stock worth $84,964,000 after acquiring an additional 476,197 shares during the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Banco Bradesco by 4.5% during the third quarter. Sei Investments Co. now owns 19,673,306 shares of the bank’s stock worth $56,069,000 after acquiring an additional 853,516 shares during the period.

Banco Bradesco Trading Down 2.2 %

NYSE BBD opened at $2.45 on Friday. Banco Bradesco S.A. has a 12-month low of $2.40 and a 12-month high of $3.68. The firm has a 50-day moving average price of $2.65 and a two-hundred day moving average price of $2.95. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77.

Banco Bradesco (NYSE:BBDGet Free Report) last posted its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $9.64 billion for the quarter. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. On average, equities analysts predict that Banco Bradesco S.A. will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 9th. Shareholders of record on Wednesday, June 5th will be given a dividend of $0.0037 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a yield of 1.81%. The ex-dividend date is Wednesday, June 5th. Banco Bradesco’s payout ratio is currently 13.04%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on BBD. Jefferies Financial Group lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a report on Tuesday, February 20th.

Read Our Latest Stock Report on Banco Bradesco

Banco Bradesco Profile

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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