B. Metzler seel. Sohn & Co. AG Has $141,000 Position in Banco Bradesco SA $BBD

Key Points

• B. Metzler seel. Sohn & Co. AG reduced its holdings in Banco Bradesco SA by 90.3% in the first quarter, owning only 63,377 shares after selling 587,091 shares.
• Banco Bradesco announced a new monthly dividend of $0.0035 per share, marking a positive increase from the previous dividend of $0.00, with a yield of 1.4%.
• Citigroup and Bank of America have upgraded Banco Bradesco's stock rating from "hold" and "neutral" to "buy", indicating growing confidence among analysts.

B. Metzler seel. Sohn & Co. AG lessened its stake in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 90.3% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 63,377 shares of the bank's stock after selling 587,091 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Banco Bradesco were worth $141,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Northern Trust Corp lifted its stake in shares of Banco Bradesco by 11.4% during the fourth quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock worth $7,864,000 after purchasing an additional 421,994 shares in the last quarter. BNP Paribas Financial Markets increased its position in shares of Banco Bradesco by 431.3% during the fourth quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock worth $13,762,000 after acquiring an additional 5,848,994 shares during the last quarter. American Century Companies Inc. increased its position in shares of Banco Bradesco by 6.4% during the first quarter. American Century Companies Inc. now owns 5,865,375 shares of the bank's stock worth $13,080,000 after acquiring an additional 351,829 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Banco Bradesco by 14.3% during the first quarter. Bessemer Group Inc. now owns 5,052,355 shares of the bank's stock worth $11,266,000 after acquiring an additional 632,647 shares during the last quarter. Finally, Sequoia Financial Advisors LLC increased its position in shares of Banco Bradesco by 263.5% during the first quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank's stock worth $111,000 after acquiring an additional 36,177 shares during the last quarter.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Stock Performance

BBD stock traded up $0.01 during midday trading on Wednesday, reaching $3.03. The company had a trading volume of 26,297,325 shares, compared to its average volume of 29,117,796. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The stock has a 50 day moving average price of $2.94 and a 200 day moving average price of $2.61. Banco Bradesco SA has a fifty-two week low of $1.84 and a fifty-two week high of $3.13. The firm has a market capitalization of $32.19 billion, a PE ratio of 8.64, a P/E/G ratio of 0.43 and a beta of 0.76.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. The business had revenue of $5.87 billion during 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%. Analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

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

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.