Rhumbline Advisers Reduces Stock Position in Banco Bradesco SA (NYSE:BBD)

Rhumbline Advisers trimmed its holdings in Banco Bradesco SA (NYSE:BBD) by 6.3% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 478,446 shares of the bank’s stock after selling 31,944 shares during the period. Rhumbline Advisers’ holdings in Banco Bradesco were worth $1,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Peapack Gladstone Financial Corp boosted its holdings in shares of Banco Bradesco by 54.5% in the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock worth $32,000 after acquiring an additional 6,000 shares during the period. Stifel Financial Corp purchased a new position in Banco Bradesco during the 4th quarter valued at about $39,000. HighTower Advisors LLC lifted its holdings in shares of Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock worth $48,000 after buying an additional 5,421 shares in the last quarter. Vestmark Advisory Solutions Inc. boosted its position in shares of Banco Bradesco by 135.3% in the fourth quarter. Vestmark Advisory Solutions Inc. now owns 27,675 shares of the bank’s stock valued at $53,000 after acquiring an additional 15,911 shares during the period. Finally, Blue Trust Inc. grew its stake in Banco Bradesco by 226.1% during the fourth quarter. Blue Trust Inc. now owns 36,699 shares of the bank’s stock valued at $70,000 after acquiring an additional 25,445 shares in the last quarter.

Banco Bradesco Stock Down 0.2%

Shares of NYSE BBD opened at $3.09 on Friday. The business has a 50-day moving average of $2.65 and a 200-day moving average of $2.26. The firm has a market capitalization of $32.83 billion, a price-to-earnings ratio of 9.64, a PEG ratio of 0.45 and a beta of 0.71. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.12.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. The business had revenue of $5.69 billion during the quarter, compared to analysts’ expectations of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. Sell-side analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a dividend, which will be paid on Wednesday, July 9th. Investors of record on Thursday, June 5th will be given a $0.0021 dividend. The ex-dividend date is Wednesday, June 4th. This represents a yield of 0.88%. Banco Bradesco’s dividend payout ratio (DPR) is presently 9.38%.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. Bank of America upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a research report on Wednesday, May 28th. One analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $2.40.

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; 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.