Massachusetts Financial Services Co. MA Sells 392,628 Shares of Banco Bradesco S.A. (NYSE:BBD)

Massachusetts Financial Services Co. MA cut its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 1.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 32,520,970 shares of the bank’s stock after selling 392,628 shares during the quarter. Massachusetts Financial Services Co. MA owned approximately 0.31% of Banco Bradesco worth $72,847,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Inspire Investing LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at $29,000. Aigen Investment Management LP purchased a new stake in shares of Banco Bradesco during the 4th quarter valued at $43,000. Vanguard Personalized Indexing Management LLC purchased a new stake in shares of Banco Bradesco during the 4th quarter valued at $46,000. Mayport LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at $47,000. Finally, SG Americas Securities LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at $49,000.

Banco Bradesco Trading Down 1.1 %

Shares of BBD opened at $2.77 on Thursday. The business has a 50-day moving average of $2.59 and a 200 day moving average of $2.60. Banco Bradesco S.A. has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The firm has a market cap of $29.52 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.31 and a beta of 0.98. 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 (NYSE:BBD) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The company had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. As a group, research analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current year.

Banco Bradesco Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be issued a $0.0035 dividend. This represents a $0.04 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 13.04%.

Analysts Set New Price Targets

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

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.