Allspring Global Investments Holdings LLC Sells 552,655 Shares of Banco Bradesco SA $BBD

Allspring Global Investments Holdings LLC lessened its holdings in Banco Bradesco SA (NYSE:BBD) by 8.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,900,116 shares of the bank’s stock after selling 552,655 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.06% of Banco Bradesco worth $19,824,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of BBD. New York State Common Retirement Fund lifted its holdings in shares of Banco Bradesco by 14.6% in the third quarter. New York State Common Retirement Fund now owns 7,526,379 shares of the bank’s stock worth $25,439,000 after acquiring an additional 957,203 shares during the last quarter. Perpetual Ltd grew its holdings in shares of Banco Bradesco by 67.5% during the 3rd quarter. Perpetual Ltd now owns 3,900,023 shares of the bank’s stock valued at $13,182,000 after purchasing an additional 1,571,561 shares during the last quarter. Barometer Capital Management Inc. acquired a new position in Banco Bradesco during the 3rd quarter worth approximately $1,186,000. Grantham Mayo Van Otterloo & Co. LLC bought a new position in Banco Bradesco in the 3rd quarter valued at approximately $12,728,000. Finally, Amundi boosted its position in Banco Bradesco by 131.4% in the second quarter. Amundi now owns 14,534,363 shares of the bank’s stock valued at $44,184,000 after buying an additional 8,253,601 shares in the last quarter.

Analyst Ratings Changes

A number of analysts have weighed in on the stock. Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, March 27th. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Banco Bradesco Trading Up 0.4%

BBD opened at $3.68 on Friday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. Banco Bradesco SA has a fifty-two week low of $1.98 and a fifty-two week high of $4.28. The company’s 50 day moving average price is $3.87 and its two-hundred day moving average price is $3.58. The firm has a market capitalization of $38.94 billion, a price-to-earnings ratio of 9.42, a PEG ratio of 0.45 and a beta of 0.55.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, February 5th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. The firm had revenue of $5.52 billion during the quarter, compared to the consensus estimate of $6.68 billion. As a group, research analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, November 9th. Shareholders of record on Wednesday, April 8th will be issued a dividend of $0.0569 per share. The ex-dividend date of this dividend is Wednesday, April 8th. This represents a c) annualized dividend and a yield of 18.6%. Banco Bradesco’s payout ratio is presently 7.69%.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.