Ballentine Partners LLC Sells 24,396 Shares of Banco Bradesco S.A. (NYSE:BBD)

Ballentine Partners LLC decreased its position in Banco Bradesco S.A. (NYSE:BBD) by 54.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,566 shares of the bank’s stock after selling 24,396 shares during the period. Ballentine Partners LLC’s holdings in Banco Bradesco were worth $39,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Massachusetts Financial Services Co. MA lifted its position in shares of Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock valued at $233,988,000 after buying an additional 55,444,555 shares during the last quarter. Fisher Asset Management LLC raised its stake in Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after acquiring an additional 12,228,662 shares during the period. Wellington Management Group LLP lifted its holdings in Banco Bradesco by 15.1% during the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after purchasing an additional 6,171,193 shares during the last quarter. Franklin Resources Inc. boosted its position in Banco Bradesco by 2.6% during the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after purchasing an additional 1,139,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new position in shares of Banco Bradesco in the third quarter worth about $104,542,000.

Analysts Set New Price Targets

A number of analysts recently commented on the stock. The Goldman Sachs Group dropped their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday, January 10th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. Finally, HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a report on Monday, January 13th.

Banco Bradesco Trading Down 0.3 %

Shares of Banco Bradesco stock opened at $1.94 on Monday. The company’s 50-day moving average price is $2.04 and its 200-day moving average price is $2.39. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco S.A. has a 12-month low of $1.84 and a 12-month high of $3.36. The company has a market cap of $20.59 billion, a price-to-earnings ratio of 7.44, a PEG ratio of 0.24 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, equities analysts expect that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be paid a dividend of $0.0031 per share. This represents a $0.04 annualized dividend and a yield of 1.92%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio is 7.69%.

Banco Bradesco 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.