Rhumbline Advisers Sells 31,944 Shares of Banco Bradesco SA $BBD

Rhumbline Advisers trimmed its stake in shares of Banco Bradesco SA (NYSE:BBD) by 6.3% during the first quarter, according to its most recent disclosure 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 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in BBD. Aprio Wealth Management LLC bought a new position in shares of Banco Bradesco in the 1st quarter valued at about $25,000. Simplicity Wealth LLC bought a new stake in Banco Bradesco during the 1st quarter worth approximately $26,000. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Banco Bradesco in the 1st quarter valued at $26,000. BSW Wealth Partners acquired a new position in shares of Banco Bradesco during the 1st quarter valued at $29,000. Finally, Merit Financial Group LLC acquired a new position in shares of Banco Bradesco during the 1st quarter valued at $37,000.

Wall Street Analysts Forecast Growth

Separately, Citigroup upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Banco Bradesco currently has an average rating of “Hold” and an average price target of $2.40.

Banco Bradesco Trading Up 1.8%

Shares of Banco Bradesco stock opened at $3.33 on Friday. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.34. The company has a market cap of $35.44 billion, a price-to-earnings ratio of 9.51, a PEG ratio of 0.46 and a beta of 0.76. 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’s 50-day moving average price is $2.98 and its 200-day moving average price is $2.71.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.10. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. The firm had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. On average, equities analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 8th. Investors of record on Wednesday, September 3rd will be paid a $0.0035 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, September 3rd. Banco Bradesco’s payout ratio is 8.57%.

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.