Barclays PLC Reduces Stake in Banco Bradesco S.A. (NYSE:BBD)

Barclays PLC cut its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 17.4% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 465,445 shares of the bank’s stock after selling 98,208 shares during the period. Barclays PLC’s holdings in Banco Bradesco were worth $1,238,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Massachusetts Financial Services Co. MA raised its holdings in Banco Bradesco by 170.5% in the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Banco Bradesco in the 3rd quarter worth about $104,542,000. Itau Unibanco Holding S.A. lifted its position in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock valued at $100,061,000 after acquiring an additional 13,627,768 shares during the period. Fisher Asset Management LLC boosted its stake in Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after acquiring an additional 12,228,662 shares in the last quarter. Finally, Two Sigma Advisers LP grew its holdings in Banco Bradesco by 208.7% in the third quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock worth $44,824,000 after purchasing an additional 11,393,100 shares during the period.

Banco Bradesco Trading Up 0.3 %

Shares of NYSE BBD opened at $1.89 on Tuesday. The stock has a market capitalization of $20.06 billion, a P/E ratio of 7.25, a PEG ratio of 0.32 and a beta of 0.94. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $3.36. The business’s 50 day moving average is $2.11 and its two-hundred day moving average is $2.41. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. As a group, research analysts expect that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be given a $0.0031 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.97%. Banco Bradesco’s payout ratio is presently 7.69%.

Analyst Upgrades and Downgrades

BBD has been the subject of a number of analyst reports. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research note on Monday. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, The Goldman Sachs Group reduced their target price on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a report on Friday.

Banco Bradesco Company Profile

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.