Banco Bradesco SA $BBD Shares Sold by Vanguard Group Inc.

Key Points

• Vanguard Group Inc. has reduced its position in Banco Bradesco SA by 1.7%, maintaining 13,743,845 shares valued at approximately $30.6 million.
• The bank recently reported a quarterly earnings per share (EPS) of $0.10, which met analysts' expectations, along with a revenue of $5.87 billion.
• Analysts have mixed ratings for Banco Bradesco, with upgrades from Citigroup and Bank of America, but a consensus target price remains at $2.40.

Vanguard Group Inc. reduced its stake in Banco Bradesco SA (NYSE:BBD - Free Report) by 1.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,743,845 shares of the bank's stock after selling 231,056 shares during the quarter. Vanguard Group Inc. owned about 0.13% of Banco Bradesco worth $30,649,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Traveka Wealth LLC lifted its position in shares of Banco Bradesco by 29.9% in the first quarter. Traveka Wealth LLC now owns 21,333 shares of the bank's stock valued at $48,000 after acquiring an additional 4,910 shares in the last quarter. Inspire Advisors LLC lifted its position in shares of Banco Bradesco by 14.5% in the first quarter. Inspire Advisors LLC now owns 67,833 shares of the bank's stock valued at $151,000 after acquiring an additional 8,589 shares in the last quarter. PDS Planning Inc lifted its position in shares of Banco Bradesco by 48.2% in the first quarter. PDS Planning Inc now owns 28,765 shares of the bank's stock valued at $64,000 after acquiring an additional 9,349 shares in the last quarter. Eagle Bay Advisors LLC lifted its position in shares of Banco Bradesco by 35.0% in the first quarter. Eagle Bay Advisors LLC now owns 37,000 shares of the bank's stock valued at $85,000 after acquiring an additional 9,600 shares in the last quarter. Finally, Simplicity Wealth LLC purchased a new stake in shares of Banco Bradesco in the first quarter valued at $26,000.

Banco Bradesco Trading Down 0.3%

NYSE BBD traded down $0.01 during trading hours on Monday, hitting $3.10. 29,247,962 shares of the company's stock were exchanged, compared to its average volume of 30,733,540. The business's 50 day moving average is $2.94 and its 200-day moving average is $2.60. Banco Bradesco SA has a 12-month low of $1.84 and a 12-month high of $3.13. The firm has a market capitalization of $32.99 billion, a P/E ratio of 8.86, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, hitting analysts' consensus estimates of $0.10. The company 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%. As a group, analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, October 8th. Stockholders of record on Wednesday, September 3rd will be paid a $0.0035 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, September 3rd. Banco Bradesco's payout ratio is 5.71%.

Analyst Ratings Changes

BBD has been the topic of several recent research reports. Citigroup upgraded Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. Three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target 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.