Vanguard Group Inc. Has $50.70 Million Stake in Banco Bradesco S.A. (NYSE:BBD)

Vanguard Group Inc. cut its holdings in shares of Banco Bradesco S.A. (NYSE:BBD) by 5.5% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,788,250 shares of the bank’s stock after selling 1,035,540 shares during the quarter. Vanguard Group Inc. owned about 0.17% of Banco Bradesco worth $50,697,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. AQR Capital Management LLC increased its holdings in shares of Banco Bradesco by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,929,843 shares of the bank’s stock valued at $8,350,000 after purchasing an additional 769,579 shares during the last quarter. American Century Companies Inc. boosted its holdings in shares of Banco Bradesco by 13.3% during the 3rd quarter. American Century Companies Inc. now owns 2,454,501 shares of the bank’s stock worth $6,995,000 after buying an additional 288,728 shares during the period. QRG Capital Management Inc. acquired a new position in Banco Bradesco in the 3rd quarter valued at about $88,000. O Shaughnessy Asset Management LLC raised its holdings in Banco Bradesco by 9.4% in the 3rd quarter. O Shaughnessy Asset Management LLC now owns 152,385 shares of the bank’s stock valued at $434,000 after acquiring an additional 13,084 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in Banco Bradesco by 9.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 522,098 shares of the bank’s stock worth $1,488,000 after acquiring an additional 47,239 shares during the last quarter.

Analyst Upgrades and Downgrades

BBD has been the topic of several research reports. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price on the stock in a research report on Tuesday, February 20th. Jefferies Financial Group cut Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. Finally, HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Banco Bradesco Stock Up 1.9 %

Shares of BBD opened at $2.92 on Tuesday. 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 12 month low of $2.59 and a 12 month high of $3.68. The firm’s 50 day moving average is $2.85 and its 200-day moving average is $3.05.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 3rd will be paid a dividend of $0.0038 per share. The ex-dividend date of this dividend is Tuesday, April 2nd. This represents a $0.05 dividend on an annualized basis and a yield of 1.58%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

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.