Bank of New York Mellon Corp Has $6.79 Million Stake in Banco Bradesco S.A. (NYSE:BBD)

Bank of New York Mellon Corp trimmed its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 7.5% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,963,474 shares of the bank’s stock after selling 158,979 shares during the period. Bank of New York Mellon Corp’s holdings in Banco Bradesco were worth $6,794,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of BBD. Russell Investments Group Ltd. boosted its stake in shares of Banco Bradesco by 73.2% in the 1st quarter. Russell Investments Group Ltd. now owns 17,804,548 shares of the bank’s stock valued at $46,648,000 after purchasing an additional 7,523,259 shares in the last quarter. SVB Wealth LLC boosted its stake in shares of Banco Bradesco by 13.9% in the 2nd quarter. SVB Wealth LLC now owns 36,214 shares of the bank’s stock valued at $125,000 after purchasing an additional 4,407 shares in the last quarter. American Century Companies Inc. boosted its stake in shares of Banco Bradesco by 10.4% in the 1st quarter. American Century Companies Inc. now owns 2,199,174 shares of the bank’s stock valued at $5,784,000 after purchasing an additional 206,887 shares in the last quarter. Balentine LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $44,000. Finally, Raymond James & Associates boosted its stake in shares of Banco Bradesco by 76.0% in the 2nd quarter. Raymond James & Associates now owns 139,350 shares of the bank’s stock valued at $482,000 after purchasing an additional 60,175 shares in the last quarter. 1.84% of the stock is currently owned by institutional investors and hedge funds.

Banco Bradesco Stock Up 1.4 %

NYSE:BBD opened at $3.21 on Tuesday. The firm’s 50 day simple moving average is $2.94 and its 200 day simple moving average is $3.15. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.72. Banco Bradesco S.A. has a one year low of $2.34 and a one year high of $3.68. The company has a market cap of $34.16 billion, a PE ratio of 15.26, a P/E/G ratio of 0.61 and a beta of 0.93.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 12th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.0039 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Monday, December 4th. This represents a $0.05 annualized dividend and a yield of 1.46%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Analyst Ratings Changes

Separately, Jefferies Financial Group assumed coverage on shares of Banco Bradesco in a research report on Monday, October 16th. They set a “buy” rating and a $3.50 target price on the stock.

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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.