Banco Bradesco SA $BBD Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. reduced its holdings in Banco Bradesco SA (NYSE:BBD) by 8.2% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 5,724,789 shares of the bank’s stock after selling 508,451 shares during the period. Bessemer Group Inc.’s holdings in Banco Bradesco were worth $20,896,000 at the end of the most recent reporting period.

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

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday, July 10th. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Banco Bradesco Price Performance

Shares of BBD stock opened at $3.54 on Friday. 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 firm’s 50-day moving average is $3.48 and its two-hundred day moving average is $3.69. Banco Bradesco SA has a 12 month low of $2.73 and a 12 month high of $4.30. The company has a market capitalization of $37.57 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.44 and a beta of 0.53.

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

Banco Bradesco Cuts Dividend

The company 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 dividend of $0.0037 per share. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco’s payout ratio is presently 5.13%.

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.