Amundi Trims Position in Banco Bradesco SA $BBD

Key Points

• Amundi has reduced its stake in Banco Bradesco SA by 7.1%, selling 479,482 shares, leaving them with approximately 0.06% ownership valued at $14.4 million.
• The bank recently announced a monthly dividend of $0.0035, marking a notable increase from its previous dividend of $0.00, with a current dividend yield of 1.3%.
• Citi upgraded Banco Bradesco's rating from "hold" to "buy", contributing to a consensus rating of "Hold" with a price target of $2.40.

Amundi lessened its holdings in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 7.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 6,280,762 shares of the bank's stock after selling 479,482 shares during the quarter. Amundi owned about 0.06% of Banco Bradesco worth $14,383,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Aprio Wealth Management LLC bought a new stake in Banco Bradesco in the 1st quarter worth approximately $25,000. Dorsey & Whitney Trust CO LLC bought a new stake in Banco Bradesco in the 1st quarter worth approximately $26,000. Simplicity Wealth LLC bought a new stake in Banco Bradesco in the 1st quarter worth approximately $26,000. BSW Wealth Partners bought a new stake in Banco Bradesco in the 1st quarter worth approximately $29,000. Finally, Merit Financial Group LLC bought a new stake in Banco Bradesco in the 1st quarter worth approximately $37,000.

Banco Bradesco Trading Down 1.3%

BBD stock traded down $0.04 during midday trading on Friday, hitting $3.12. The company had a trading volume of 58,581,199 shares, compared to its average volume of 30,084,112. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.24. The stock's 50 day moving average price is $2.95 and its 200 day moving average price is $2.66. The stock has a market cap of $33.20 billion, a price-to-earnings ratio of 8.91, a PEG ratio of 0.43 and a beta of 0.76.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The firm had revenue of $5.87 billion during the quarter, compared to the consensus estimate of $32.70 billion. As a group, equities research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, October 8th. Shareholders of record on Wednesday, September 3rd will be given a $0.0035 dividend. The ex-dividend date is Wednesday, September 3rd. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 1.4%. Banco Bradesco's dividend payout ratio is presently 8.57%.

Wall Street Analyst Weigh In

Separately, Citigroup upgraded Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. 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 company. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price 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.