Allspring Global Investments Holdings LLC Sells 4,866,529 Shares of Banco Bradesco SA $BBD

Allspring Global Investments Holdings LLC reduced its stake in shares of Banco Bradesco SA (NYSE:BBD) by 82.5% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,033,587 shares of the bank’s stock after selling 4,866,529 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Banco Bradesco were worth $3,855,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of BBD. Aquamarine Financial Cayman Ltd grew its stake in Banco Bradesco by 8.1% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock worth $517,056,000 after buying an additional 11,137,145 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Banco Bradesco by 25.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock worth $273,604,000 after acquiring an additional 16,908,425 shares during the period. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $250,398,000. Wellington Management Group LLP boosted its position in shares of Banco Bradesco by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 77,491,815 shares of the bank’s stock worth $258,048,000 after acquiring an additional 756,107 shares in the last quarter. Finally, Franklin Resources Inc. boosted its position in shares of Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock worth $159,664,000 after acquiring an additional 46,080,856 shares in the last quarter.

Banco Bradesco Stock Down 1.8%

Shares of NYSE:BBD opened at $3.60 on Friday. The company has a market capitalization of $38.10 billion, a PE ratio of 9.22, a price-to-earnings-growth ratio of 0.45 and a beta of 0.53. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The business has a fifty day moving average price of $3.48 and a two-hundred day moving average price of $3.70. Banco Bradesco SA has a 1 year low of $2.73 and a 1 year high of $4.30.

Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The company had revenue of $1.50 billion for the quarter. Analysts forecast that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be given a $0.0037 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco’s payout ratio is 5.13%.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research note on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock has a consensus rating of “Buy”.

Banco Bradesco 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.