Banco Bradesco SA $BBD Position Trimmed by Vanguard Group Inc.

Vanguard Group Inc. decreased its holdings in shares of Banco Bradesco SA (NYSE:BBD) by 1.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 13,743,845 shares of the bank’s stock after selling 231,056 shares during the period. Vanguard Group Inc. owned about 0.13% of Banco Bradesco worth $30,649,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the business. Simplicity Wealth LLC acquired a new position in shares of Banco Bradesco during the first quarter valued at $26,000. BSW Wealth Partners acquired a new position in shares of Banco Bradesco during the first quarter valued at $29,000. Merit Financial Group LLC acquired a new position in shares of Banco Bradesco during the first quarter valued at $37,000. Stifel Financial Corp acquired a new position in shares of Banco Bradesco during the fourth quarter valued at $39,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Banco Bradesco during the first quarter valued at $41,000.

Banco Bradesco Price Performance

Shares of NYSE BBD opened at $3.03 on Thursday. Banco Bradesco SA has a twelve month low of $1.84 and a twelve month high of $3.13. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $32.19 billion, a price-to-earnings ratio of 8.64, a PEG ratio of 0.41 and a beta of 0.68. The firm has a 50-day moving average of $2.93 and a two-hundred day moving average of $2.58.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $5.87 billion during the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. As a group, analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which was paid on Friday, August 8th. Investors of record on Thursday, July 3rd were issued a $0.0034 dividend. The ex-dividend date was Thursday, July 3rd. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s dividend payout ratio is currently 8.57%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on BBD shares. Citigroup upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research report on Wednesday, May 28th. Bank of America upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, May 8th. Three investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, Banco Bradesco has a consensus rating of “Hold” and a consensus target price 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.