Bank of America Corp DE Cuts Holdings in Banco Bradesco S.A. (NYSE:BBD)

Bank of America Corp DE reduced its holdings in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 82.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 5,362,519 shares of the bank's stock after selling 24,797,217 shares during the period. Bank of America Corp DE owned about 0.05% of Banco Bradesco worth $10,242,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BBD. HighTower Advisors LLC increased its stake in shares of Banco Bradesco by 27.2% in the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares in the last quarter. Peapack Gladstone Financial Corp grew its holdings in Banco Bradesco by 54.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after purchasing an additional 6,000 shares during the period. Blue Trust Inc. grew its holdings in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after purchasing an additional 8,801 shares during the period. PNC Financial Services Group Inc. increased its position in Banco Bradesco by 5.4% in the fourth quarter. PNC Financial Services Group Inc. now owns 214,322 shares of the bank's stock worth $409,000 after buying an additional 10,938 shares in the last quarter. Finally, GeoWealth Management LLC raised its stake in shares of Banco Bradesco by 41.3% in the fourth quarter. GeoWealth Management LLC now owns 51,037 shares of the bank's stock worth $97,000 after buying an additional 14,917 shares during the period.

Banco Bradesco Price Performance

BBD stock traded up $0.07 during trading on Tuesday, reaching $2.87. The company's stock had a trading volume of 31,552,745 shares, compared to its average volume of 34,388,913. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The company's fifty day moving average is $2.38 and its 200-day moving average is $2.18. The company has a market capitalization of $30.49 billion, a P/E ratio of 9.55, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.96.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, research analysts expect that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be paid a $0.0022 dividend. The ex-dividend date of this dividend is Tuesday, May 6th. This represents a yield of 1.08%. Banco Bradesco's payout ratio is 6.25%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on BBD shares. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and decreased their target price for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th.

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.