New York State Common Retirement Fund Has $5.92 Million Position in Banco Bradesco S.A. (NYSE:BBD)

New York State Common Retirement Fund lessened its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 7.8% during the 4th quarter, HoldingsChannel reports. The firm owned 1,691,836 shares of the bank’s stock after selling 144,112 shares during the quarter. New York State Common Retirement Fund’s holdings in Banco Bradesco were worth $5,921,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of BBD. Bleakley Financial Group LLC bought a new stake in shares of Banco Bradesco during the 4th quarter worth $161,000. American Century Companies Inc. boosted its holdings in Banco Bradesco by 13.3% during the third quarter. American Century Companies Inc. now owns 2,454,501 shares of the bank’s stock valued at $6,995,000 after acquiring an additional 288,728 shares during the period. AQR Capital Management LLC grew its position in shares of Banco Bradesco by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,929,843 shares of the bank’s stock valued at $8,350,000 after purchasing an additional 769,579 shares during the last quarter. Ballentine Partners LLC increased its stake in shares of Banco Bradesco by 54.8% in the fourth quarter. Ballentine Partners LLC now owns 39,301 shares of the bank’s stock worth $138,000 after purchasing an additional 13,908 shares during the period. Finally, SVB Wealth LLC lifted its position in shares of Banco Bradesco by 11.3% during the 4th quarter. SVB Wealth LLC now owns 38,140 shares of the bank’s stock worth $133,000 after purchasing an additional 3,868 shares during the last quarter.

Banco Bradesco Trading Down 0.2 %

Banco Bradesco stock opened at $2.72 on Friday. The business has a 50 day moving average price of $2.79 and a two-hundred day moving average price of $3.03. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco S.A. has a 12 month low of $2.60 and a 12 month high of $3.68.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 6th will be paid a $0.0036 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.60%. Banco Bradesco’s payout ratio is 14.29%.

Wall Street Analyst Weigh In

Several brokerages have commented on BBD. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

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.