Banco Bradesco (NYSE:BBD) Position Trimmed by Pendal Group Ltd

Pendal Group Ltd reduced its position in shares of Banco Bradesco (NYSE:BBD) by 14.4% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,736,897 shares of the bank’s stock after selling 292,254 shares during the quarter. Pendal Group Ltd’s holdings in Banco Bradesco were worth $20,634,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of BBD. Signaturefd LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter worth approximately $109,000. Quantitative Systematic Strategies LLC bought a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $151,000. Premia Global Advisors LLC bought a new position in Banco Bradesco during the fourth quarter valued at $155,000. Advisor Partners LLC bought a new position in Banco Bradesco during the fourth quarter valued at $161,000. Finally, HBK Investments L P bought a new position in Banco Bradesco during the fourth quarter valued at $198,000. 2.91% of the stock is currently owned by institutional investors and hedge funds.

Several equities research analysts have issued reports on BBD shares. JPMorgan Chase upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. ValuEngine upgraded Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Finally, Zacks Investment Research cut Banco Bradesco from a “hold” rating to a “sell” rating in a research note on Tuesday, April 17th. One analyst has rated the stock with a sell rating, one has issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $12.20.

NYSE:BBD opened at $8.39 on Friday. Banco Bradesco has a 12 month low of $7.83 and a 12 month high of $13.18. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 0.93. The company has a market capitalization of $56.16 billion, a price-to-earnings ratio of 9.29, a P/E/G ratio of 0.50 and a beta of 1.86.

The company also recently announced a special dividend, which will be paid on Tuesday, July 10th. Investors of record on Tuesday, June 5th will be issued a $0.0053 dividend. The ex-dividend date is Monday, June 4th. Banco Bradesco’s dividend payout ratio is currently 6.74%.

Banco Bradesco Company Profile

Banco Bradesco SA provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates in two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.

Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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