Arrowstreet Capital Limited Partnership Reduces Stake in Banco Bradesco SA $BBD

Arrowstreet Capital Limited Partnership cut its stake in shares of Banco Bradesco SA (NYSE:BBD) by 3.2% in the 1st quarter, Holdings Channel reports. The institutional investor owned 79,507,406 shares of the bank’s stock after selling 2,655,854 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Banco Bradesco were worth $290,202,000 at the end of the most recent quarter.

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

Banco Bradesco Stock Performance

Shares of BBD opened at $3.60 on Friday. Banco Bradesco SA has a 52 week low of $2.73 and a 52 week high of $4.30. The stock has a 50 day moving average price of $3.48 and a two-hundred day moving average price of $3.70. The firm has a market capitalization of $38.10 billion, a P/E ratio of 9.22, a P/E/G 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.

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

Banco Bradesco Cuts Dividend

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

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Friday, July 10th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Banco Bradesco 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.