Allspring Global Investments Holdings LLC Decreases Stock Position in Banco Bradesco SA $BBD

Allspring Global Investments Holdings LLC trimmed its stake in shares of Banco Bradesco SA (NYSE:BBD) by 82.5% during the 1st quarter, Holdings Channel.com reports. The fund owned 1,033,587 shares of the bank’s stock after selling 4,866,529 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Banco Bradesco were worth $3,855,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its holdings in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after acquiring an additional 4,353 shares during the last quarter. Brooklyn Investment Group raised its stake in shares of Banco Bradesco by 1,276.5% during the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after acquiring an additional 9,842 shares during the last quarter. Diversify Wealth Management LLC purchased a new stake in shares of Banco Bradesco during the first quarter worth about $43,000. Checchi Capital Advisers LLC bought a new stake in shares of Banco Bradesco in the fourth quarter worth about $39,000. Finally, Ballentine Partners LLC bought a new stake in shares of Banco Bradesco in the fourth quarter worth about $41,000.

Banco Bradesco Trading Down 1.8%

Shares of NYSE:BBD opened at $3.60 on Friday. The stock has a market capitalization of $38.10 billion, a price-to-earnings ratio of 9.22, a PEG ratio of 0.45 and a beta of 0.53. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The stock’s 50-day simple moving average is $3.48 and its two-hundred day simple moving average is $3.70. Banco Bradesco SA has a 52-week low of $2.73 and a 52-week high of $4.30.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. The firm had revenue of $1.50 billion for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. Analysts expect that Banco Bradesco SA will post 0.5 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a $0.0037 dividend. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio is presently 5.13%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Friday, July 10th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, Banco Bradesco currently has an average rating of “Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.