Mirae Asset Global Investments Co. Ltd. lowered its stake in shares of Banco Bradesco S.A. (NYSE:BBD – Free Report) by 5.3% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 494,202 shares of the bank’s stock after selling 27,896 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Banco Bradesco were worth $1,730,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of BBD. Advisor Group Holdings Inc. grew its holdings in Banco Bradesco by 15.3% during the first quarter. Advisor Group Holdings Inc. now owns 47,036 shares of the bank’s stock worth $325,000 after buying an additional 6,254 shares in the last quarter. Bank of Montreal Can grew its holdings in Banco Bradesco by 38.4% during the first quarter. Bank of Montreal Can now owns 164,575 shares of the bank’s stock worth $767,000 after buying an additional 45,641 shares in the last quarter. Sequoia Financial Advisors LLC grew its stake in Banco Bradesco by 36.4% in the 1st quarter. Sequoia Financial Advisors LLC now owns 16,506 shares of the bank’s stock valued at $77,000 after purchasing an additional 4,407 shares during the period. Federated Hermes Inc. bought a new position in Banco Bradesco in the 1st quarter valued at $470,000. Finally, Prudential Financial Inc. bought a new position in Banco Bradesco in the 1st quarter valued at $57,000.
Banco Bradesco Stock Performance
BBD stock opened at $2.64 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco S.A. has a fifty-two week low of $2.60 and a fifty-two week high of $3.68. The stock has a fifty day moving average of $2.80 and a 200-day moving average of $3.04.
Banco Bradesco Cuts Dividend
Analysts Set New Price Targets
A number of research analysts have issued reports on BBD shares. Jefferies Financial Group downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, The Goldman Sachs Group upgraded Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective for the company in a research note on Tuesday, February 20th.
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.
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