Bp Plc Trims Stake in Banco Bradesco SA (BBD)

Bp Plc trimmed its position in Banco Bradesco SA (NYSE:BBD) by 8.1% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,293,335 shares of the bank’s stock after selling 113,600 shares during the quarter. Bp Plc’s holdings in Banco Bradesco SA were worth $14,317,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Stifel Financial Corp bought a new stake in shares of Banco Bradesco SA in the first quarter worth about $109,000. ZWJ Investment Counsel Inc. grew its position in Banco Bradesco SA by 1.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 15,596 shares of the bank’s stock worth $133,000 after acquiring an additional 217 shares in the last quarter. Candriam Luxembourg S.C.A. grew its position in Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,252 shares of the bank’s stock worth $181,000 after acquiring an additional 1,932 shares in the last quarter. Eqis Capital Management Inc. grew its position in Banco Bradesco SA by 11.8% in the second quarter. Eqis Capital Management Inc. now owns 21,534 shares of the bank’s stock worth $183,000 after acquiring an additional 2,266 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in Banco Bradesco SA in the third quarter worth about $183,000. 2.80% of the stock is currently owned by hedge funds and other institutional investors.

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The business also recently disclosed a monthly dividend, which will be paid on Friday, December 8th. Investors of record on Friday, November 3rd will be given a dividend of $0.006 per share. The ex-dividend date of this dividend is Thursday, November 2nd. This represents a $0.07 dividend on an annualized basis and a dividend yield of 0.68%. Banco Bradesco SA’s payout ratio is currently 7.86%.

Several research analysts have issued reports on BBD shares. Zacks Investment Research lowered Banco Bradesco SA from a “hold” rating to a “sell” rating in a research report on Tuesday, October 3rd. ValuEngine lowered Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. BidaskClub lowered Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, July 25th. Scotiabank lowered Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a research report on Tuesday, September 5th. Finally, Goldman Sachs Group, Inc. (The) upgraded Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research report on Monday, September 11th. One research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Banco Bradesco SA has a consensus rating of “Buy” and a consensus price target of $12.40.

Banco Bradesco SA Profile

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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

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