Allspring Global Investments Holdings LLC Has $23.68 Million Stock Position in Banco Bradesco SA $BBD

Key Points

• Allspring Global Investments Holdings LLC reduced its stake in Banco Bradesco SA by 3.6%, owning 7,664,489 shares worth approximately $23.68 million as of the latest report.
• Banco Bradesco has a consensus rating of "Hold" from analysts, with a target price of $2.40, despite varying ratings among research firms.
• The bank will pay a $0.0035 monthly dividend on December 8th, with an annualized yield of 1.3% and a dividend payout ratio of 8.57%.

Allspring Global Investments Holdings LLC lowered its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 3.6% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 7,664,489 shares of the bank's stock after selling 289,793 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.07% of Banco Bradesco worth $23,683,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in BBD. Aprio Wealth Management LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $25,000. GAMMA Investing LLC lifted its stake in shares of Banco Bradesco by 92.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank's stock valued at $25,000 after purchasing an additional 3,864 shares during the period. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $26,000. BSW Wealth Partners acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $29,000. Finally, Sagespring Wealth Partners LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $41,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Banco Bradesco currently has a consensus rating of "Hold" and a consensus target price of $2.40.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $3.27 on Friday. The company has a market capitalization of $34.80 billion, a PE ratio of 9.34, a PEG ratio of 0.39 and a beta of 0.75. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.41. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The stock's fifty day simple moving average is $3.13 and its 200 day simple moving average is $2.85.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. On average, research analysts predict that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 8th. Shareholders of record on Wednesday, November 5th will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a c) annualized dividend and a dividend yield of 1.3%. Banco Bradesco's dividend payout ratio (DPR) is currently 8.57%.

About Banco Bradesco

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.

Want to see what other hedge funds are holding BBD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Banco Bradesco SA (NYSE:BBD - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.