Pinebridge Investments L.P. reduced its stake in shares of Banco Bradesco SA (NYSE:BBD) by 13.1% during the 4th quarter, HoldingsChannel reports. The firm owned 376,036 shares of the bank’s stock after selling 56,894 shares during the period. Pinebridge Investments L.P.’s holdings in Banco Bradesco were worth $3,851,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. State Street Corp grew its holdings in shares of Banco Bradesco by 8.7% during the 2nd quarter. State Street Corp now owns 9,527,392 shares of the bank’s stock worth $80,982,000 after purchasing an additional 761,609 shares in the last quarter. TD Asset Management Inc. grew its holdings in shares of Banco Bradesco by 24.1% during the 3rd quarter. TD Asset Management Inc. now owns 68,640 shares of the bank’s stock worth $760,000 after purchasing an additional 13,347 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Banco Bradesco by 17.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock worth $643,000 after purchasing an additional 11,473 shares in the last quarter. Quantbot Technologies LP grew its holdings in shares of Banco Bradesco by 631.0% during the 3rd quarter. Quantbot Technologies LP now owns 249,523 shares of the bank’s stock worth $2,762,000 after purchasing an additional 215,388 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its holdings in shares of Banco Bradesco by 68.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 254,701 shares of the bank’s stock worth $2,820,000 after purchasing an additional 103,699 shares in the last quarter. 2.79% of the stock is currently owned by institutional investors.
Shares of Banco Bradesco SA (NYSE BBD) opened at $11.88 on Friday. Banco Bradesco SA has a 1 year low of $7.83 and a 1 year high of $13.18. The firm has a market capitalization of $79,519.74, a price-to-earnings ratio of 12.06, a P/E/G ratio of 1.00 and a beta of 1.89.
The firm also recently disclosed a special dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 4th will be given a dividend of $0.0058 per share. This is an increase from Banco Bradesco’s previous special dividend of $0.01. The ex-dividend date of this dividend is Tuesday, April 3rd. Banco Bradesco’s dividend payout ratio is currently 7.91%.
BBD has been the topic of several analyst reports. ValuEngine lowered Banco Bradesco from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research raised Banco Bradesco from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup raised Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Monday, January 22nd. Two research analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Banco Bradesco presently has a consensus rating of “Buy” and a consensus price target of $12.20.
Banco Bradesco Company 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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