Rhumbline Advisers Sells 39,697 Shares of Banco Bradesco S.A. (NYSE:BBD)

Rhumbline Advisers decreased its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 7.2% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 510,390 shares of the bank’s stock after selling 39,697 shares during the period. Rhumbline Advisers’ holdings in Banco Bradesco were worth $975,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. R Squared Ltd purchased a new position in shares of Banco Bradesco during the 4th quarter valued at $30,000. Traveka Wealth LLC bought a new stake in Banco Bradesco during the fourth quarter valued at about $31,000. Townsquare Capital LLC bought a new position in shares of Banco Bradesco in the third quarter worth about $37,000. Blue Trust Inc. grew its position in shares of Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock worth $38,000 after purchasing an additional 8,801 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its stake in Banco Bradesco by 37.0% during the 4th quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock valued at $54,000 after purchasing an additional 7,400 shares during the period.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and reduced their target price for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

Banco Bradesco Trading Up 1.2 %

Shares of BBD opened at $2.07 on Friday. The firm has a market capitalization of $21.98 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a 50-day moving average of $2.02 and a 200 day moving average of $2.33.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, research analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be given a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. Banco Bradesco’s dividend payout ratio (DPR) is presently 6.67%.

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.