Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Rhumbline Advisers

Rhumbline Advisers trimmed its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 47.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 553,257 shares of the bank’s stock after selling 500,170 shares during the period. Rhumbline Advisers’ holdings in Banco Bradesco were worth $1,239,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of BBD. Fisher Asset Management LLC lifted its stake in shares of Banco Bradesco by 77.2% in the 4th quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock valued at $242,441,000 after purchasing an additional 30,188,950 shares during the period. Wellington Management Group LLP lifted its stake in shares of Banco Bradesco by 14.1% in the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after purchasing an additional 7,478,762 shares during the period. Algebris UK Ltd acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $7,075,000. Oaktree Capital Management LP lifted its stake in shares of Banco Bradesco by 8.2% in the 4th quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock valued at $120,157,000 after purchasing an additional 2,588,418 shares during the period. Finally, ARGA Investment Management LP increased its holdings in Banco Bradesco by 13.1% in the 1st quarter. ARGA Investment Management LP now owns 19,423,378 shares of the bank’s stock worth $55,551,000 after acquiring an additional 2,251,704 shares in the last quarter.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Price Performance

Shares of NYSE BBD opened at $2.63 on Friday. The firm has a market cap of $28.03 billion, a PE ratio of 11.43, a PEG ratio of 0.31 and a beta of 0.98. The firm has a fifty day moving average of $2.61 and a 200 day moving average of $2.60. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65.

Banco Bradesco (NYSE:BBD) last released its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The business had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. As a group, research analysts predict that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Dividend Announcement

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.58%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s payout ratio is 13.04%.

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.