Banco Bradesco SA $BBD Shares Sold by Calamos Advisors LLC

Calamos Advisors LLC lessened its holdings in Banco Bradesco SA (NYSE:BBD) by 49.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 193,810 shares of the bank’s stock after selling 186,700 shares during the quarter. Calamos Advisors LLC’s holdings in Banco Bradesco were worth $707,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Orbis Allan Gray Ltd purchased a new position in shares of Banco Bradesco in the 2nd quarter valued at approximately $250,398,000. Franklin Resources Inc. grew its stake in shares of Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock worth $159,664,000 after purchasing an additional 46,080,856 shares during the period. Goldman Sachs Group Inc. increased its holdings in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after buying an additional 17,853,712 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its holdings 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 purchasing an additional 16,908,425 shares during the last quarter. Finally, Marshall Wace LLP raised its stake in shares of Banco Bradesco by 103.9% during the 3rd quarter. Marshall Wace LLP now owns 32,045,389 shares of the bank’s stock worth $108,313,000 after buying an additional 16,331,155 shares during the last quarter.

Wall Street Analysts Forecast Growth

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, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Banco Bradesco Trading Down 1.8%

Shares of BBD opened at $3.56 on Friday. Banco Bradesco SA has a one year low of $2.73 and a one year high of $4.30. 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 company has a market capitalization of $37.67 billion, a P/E ratio of 9.12, a P/E/G ratio of 0.45 and a beta of 0.53. The stock has a 50-day moving average price of $3.48 and a 200 day moving average price of $3.69.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results 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. Sell-side analysts forecast that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be given a $0.0037 dividend. This represents a c) dividend on an annualized basis and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio is currently 20.51%.

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.