Allspring Global Investments Holdings LLC Trims Stock Holdings in Banco Bradesco SA (NYSE:BBD)

Allspring Global Investments Holdings LLC trimmed its position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 4.7% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 7,954,282 shares of the bank's stock after selling 393,482 shares during the quarter. Allspring Global Investments Holdings LLC owned approximately 0.07% of Banco Bradesco worth $17,897,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Simplicity Wealth LLC bought a new position in Banco Bradesco during the 1st quarter worth $26,000. BSW Wealth Partners bought a new stake in shares of Banco Bradesco in the 1st quarter valued at $29,000. Merit Financial Group LLC bought a new stake in Banco Bradesco in the first quarter valued at $37,000. Peapack Gladstone Financial Corp grew its stake in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after buying an additional 6,000 shares during the period. Finally, Sagespring Wealth Partners LLC acquired a new stake in Banco Bradesco in the first quarter valued at approximately $41,000.

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.03 during midday trading on Friday, reaching $3.07. The company's stock had a trading volume of 22,673,478 shares, compared to its average volume of 37,010,552. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market capitalization of $32.67 billion, a P/E ratio of 9.59, a PEG ratio of 0.45 and a beta of 0.71. The firm has a 50 day moving average price of $2.83 and a 200-day moving average price of $2.34. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.13.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. As a group, equities analysts predict that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a -- dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Wednesday, July 2nd will be given a dividend of $0.0351 per share. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 2nd. Banco Bradesco's dividend payout ratio is currently 6.25%.

Wall Street Analyst Weigh In

BBD has been the topic of several recent research reports. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Banco Bradesco has an average rating of "Hold" and a consensus target price of $2.40.

Banco Bradesco Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.