Amundi Trims Stock Position in Banco Bradesco S.A. (NYSE:BBD)

Amundi trimmed its position in Banco Bradesco S.A. (NYSE:BBD) by 16.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,760,244 shares of the bank’s stock after selling 1,301,068 shares during the quarter. Amundi owned about 0.06% of Banco Bradesco worth $12,912,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA increased its holdings in Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter. ARGA Investment Management LP increased its holdings in Banco Bradesco by 215.1% in the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after acquiring an additional 56,552,808 shares in the last quarter. Fisher Asset Management LLC increased its holdings in Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after acquiring an additional 12,228,662 shares in the last quarter. Wellington Management Group LLP increased its holdings in Banco Bradesco by 15.1% in the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after acquiring an additional 6,171,193 shares in the last quarter. Finally, Franklin Resources Inc. increased its holdings in Banco Bradesco by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after acquiring an additional 1,139,470 shares in the last quarter.

Banco Bradesco Trading Up 5.1 %

BBD stock opened at $2.15 on Friday. Banco Bradesco S.A. has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The company has a market capitalization of $22.83 billion, a price-to-earnings ratio of 7.15, a PEG ratio of 0.32 and a beta of 0.94. The business has a 50 day simple moving average of $2.03 and a two-hundred day simple moving average of $2.29.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Research analysts anticipate that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be given a dividend of $0.0033 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.83%. The ex-dividend date is Friday, March 7th. Banco Bradesco’s dividend payout ratio is currently 6.67%.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. The Goldman Sachs Group lowered shares of 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. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research note on Monday, January 13th.

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.