Banco Bradesco SA (NYSE:BBD) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its position in Banco Bradesco SA (NYSE:BBD - Free Report) by 4.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 7,954,282 shares of the bank's stock after selling 393,482 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Banco Bradesco worth $17,897,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its holdings in Banco Bradesco by 13.9% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock valued at $191,386,000 after acquiring an additional 12,236,689 shares during the period. Arrowstreet Capital Limited Partnership boosted its stake in shares of Banco Bradesco by 26.2% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank's stock valued at $97,079,000 after purchasing an additional 10,537,751 shares during the period. Wellington Management Group LLP grew its holdings in shares of Banco Bradesco by 20.8% in the fourth quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank's stock worth $108,507,000 after purchasing an additional 9,762,964 shares during the last quarter. Marshall Wace LLP increased its stake in Banco Bradesco by 45.4% in the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank's stock worth $52,988,000 after buying an additional 8,661,231 shares during the period. Finally, Algebris UK Ltd bought a new stake in Banco Bradesco during the 4th quarter valued at about $14,111,000.

Banco Bradesco Stock Up 1.0%

BBD stock traded up $0.03 during trading on Friday, hitting $3.07. 22,673,478 shares of the company's stock traded hands, compared to its average volume of 37,108,841. The firm 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. Banco Bradesco SA has a 1 year low of $1.84 and a 1 year high of $3.13. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. The business has a fifty day simple moving average of $2.83 and a two-hundred day simple moving average of $2.34.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. The business had revenue of $5.69 billion for 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%. Sell-side analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, February 10th. Shareholders 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 of this dividend is Wednesday, July 2nd. Banco Bradesco's payout ratio is 9.38%.

Analyst Ratings Changes

Several research firms have recently weighed in on BBD. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, Banco Bradesco has an average rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Company 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.