Toronto Dominion Bank Reduces Stake in Banco Bradesco S.A. (NYSE:BBD)

Toronto Dominion Bank cut its stake in shares of Banco Bradesco S.A. (NYSE:BBD – Get Rating) by 55.8% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,529 shares of the bank’s stock after selling 77,760 shares during the period. Toronto Dominion Bank’s holdings in Banco Bradesco were worth $177,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. National Bank of Canada FI raised its holdings in Banco Bradesco by 23,941.1% during the 4th quarter. National Bank of Canada FI now owns 49,140,000 shares of the bank’s stock valued at $141,523,000 after buying an additional 48,935,600 shares during the period. Itau Unibanco Holding S.A. increased its position in Banco Bradesco by 25.7% during the third quarter. Itau Unibanco Holding S.A. now owns 28,390,374 shares of the bank’s stock valued at $104,477,000 after acquiring an additional 5,796,467 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in shares of Banco Bradesco in the fourth quarter valued at $12,875,000. INCA Investments LLC lifted its holdings in shares of Banco Bradesco by 190.9% in the 4th quarter. INCA Investments LLC now owns 5,845,071 shares of the bank’s stock worth $16,834,000 after acquiring an additional 3,835,814 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in shares of Banco Bradesco in the 3rd quarter worth about $7,837,000. 2.36% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBD shares. Barclays reduced their price objective on shares of Banco Bradesco from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 7th. The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $3.70 to $2.70 in a report on Thursday, February 16th. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $11.93.

Banco Bradesco Trading Up 0.6 %

Shares of NYSE BBD opened at $3.13 on Friday. Banco Bradesco S.A. has a twelve month low of $2.34 and a twelve month high of $4.32. The company has a quick ratio of 0.74, a current ratio of 0.74 and a debt-to-equity ratio of 0.60. The business has a fifty day simple moving average of $2.69 and a two-hundred day simple moving average of $2.82. The firm has a market cap of $33.36 billion, a PE ratio of 10.10, a price-to-earnings-growth ratio of 0.91 and a beta of 0.71.

Banco Bradesco (NYSE:BBD – Get Rating) last issued its earnings results on Thursday, May 4th. The bank reported $0.07 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.07. Banco Bradesco had a net margin of 9.54% and a return on equity of 11.61%. The company had revenue of $9.82 billion for the quarter, compared to analysts’ expectations of $5.43 billion. During the same period in the prior year, the business earned $0.12 EPS. Analysts expect that Banco Bradesco S.A. will post 0.36 earnings per share for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, June 8th. Investors of record on Thursday, May 4th will be paid a $0.0036 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.40%. The ex-dividend date of this dividend is Wednesday, May 3rd. Banco Bradesco’s dividend payout ratio (DPR) is 9.68%.

About Banco Bradesco

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Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.