Deutsche Bank AG Reduces Holdings in Banco Bradesco S.A. (NYSE:BBD)

Deutsche Bank AG lowered its position in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 50.7% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,570,438 shares of the bank's stock after selling 1,616,024 shares during the period. Deutsche Bank AG's holdings in Banco Bradesco were worth $3,000,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new position in shares of Banco Bradesco in the 4th quarter valued at $30,000. Peapack Gladstone Financial Corp raised its position in Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after buying an additional 6,000 shares during the last quarter. Blue Trust Inc. lifted its position 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. Stifel Financial Corp acquired a new position in shares of Banco Bradesco in the 4th quarter valued at about $39,000. Finally, HighTower Advisors LLC boosted its stake in shares of Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after buying an additional 5,421 shares during the last quarter.

Analyst Ratings Changes

BBD has been the topic of several recent research reports. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research report on Thursday, May 8th. The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and lowered their target price for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th.

Banco Bradesco Price Performance

Shares of BBD stock traded up $0.11 during trading hours on Tuesday, hitting $2.91. 1,844,443 shares of the company's stock were exchanged, compared to its average volume of 34,286,045. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.96. The firm has a market cap of $30.92 billion, a P/E ratio of 9.65, a P/E/G ratio of 0.32 and a beta of 0.65. 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 firm has a 50 day moving average of $2.38 and a two-hundred day moving average of $2.18.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted 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 company had revenue of $5.69 billion during the quarter, compared to analysts' expectations of $31.24 billion. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Sell-side analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

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

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.