Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. trimmed its position in Banco Bradesco S.A. (NYSE:BBD) by 3.5% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 688,345 shares of the bank’s stock after selling 25,000 shares during the period. Daiwa Securities Group Inc.’s holdings in Banco Bradesco were worth $2,409,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of BBD. BlackRock Inc. grew its stake in Banco Bradesco by 48.4% in the first quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock worth $188,924,000 after purchasing an additional 23,517,670 shares in the last quarter. Causeway Capital Management LLC grew its stake in Banco Bradesco by 43.4% in the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock worth $182,605,000 after purchasing an additional 19,404,902 shares in the last quarter. Arrowstreet Capital Limited Partnership acquired a new position in Banco Bradesco in the fourth quarter worth about $23,765,000. Massachusetts Financial Services Co. MA grew its stake in Banco Bradesco by 35.8% in the third quarter. Massachusetts Financial Services Co. MA now owns 21,319,038 shares of the bank’s stock worth $60,759,000 after purchasing an additional 5,624,225 shares in the last quarter. Finally, Itau Unibanco Holding S.A. grew its stake in Banco Bradesco by 48.3% in the third quarter. Itau Unibanco Holding S.A. now owns 12,021,725 shares of the bank’s stock worth $34,262,000 after purchasing an additional 3,914,265 shares in the last quarter.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price on the stock in a report on Tuesday, February 20th. Jefferies Financial Group cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Friday, February 9th. Finally, HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th.

Banco Bradesco Stock Performance

Shares of NYSE BBD opened at $2.64 on Monday. The firm’s 50-day moving average price is $2.80 and its two-hundred day moving average price is $3.04. The stock has a market capitalization of $28.14 billion, a P/E ratio of 12.57 and a beta of 0.95. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco S.A. has a 52-week low of $2.60 and a 52-week high of $3.68.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be issued a dividend of $0.0036 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.64%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

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.