Groupama Asset Managment Sells 179,181 Shares of Banco Bradesco SA $BBD

Groupama Asset Managment lessened its stake in shares of Banco Bradesco SA (NYSE:BBD) by 70.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 76,140 shares of the bank’s stock after selling 179,181 shares during the quarter. Groupama Asset Managment’s holdings in Banco Bradesco were worth $254,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of BBD. Aquamarine Financial Cayman Ltd grew its stake in Banco Bradesco by 8.1% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock valued at $517,056,000 after buying an additional 11,137,145 shares during the last quarter. Fisher Asset Management LLC lifted its position in Banco Bradesco by 0.3% during the third quarter. Fisher Asset Management LLC now owns 88,405,292 shares of the bank’s stock worth $298,810,000 after acquiring an additional 306,617 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock worth $273,604,000 after acquiring an additional 16,908,425 shares during the last quarter. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco during the second quarter worth approximately $250,398,000. Finally, Wellington Management Group LLP boosted its holdings in shares of Banco Bradesco by 1.0% during the fourth quarter. Wellington Management Group LLP now owns 77,491,815 shares of the bank’s stock worth $258,048,000 after acquiring an additional 756,107 shares during the period.

Banco Bradesco Trading Up 0.1%

BBD stock opened at $3.37 on Monday. Banco Bradesco SA has a 52 week low of $2.73 and a 52 week high of $4.30. The company has a market capitalization of $35.66 billion, a PE ratio of 8.63, a price-to-earnings-growth ratio of 0.41 and a beta of 0.53. The company’s 50-day simple moving average is $3.67 and its 200 day simple moving average is $3.68. 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 for the quarter. The business had revenue of $1.50 billion during the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. As a group, sell-side analysts anticipate that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 6th will be issued a dividend of $0.0038 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a c) annualized dividend and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.69%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, April 13th. Two investment analysts have rated the stock with a Buy rating, According to MarketBeat, Banco Bradesco presently has a consensus rating of “Buy”.

About Banco Bradesco

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.