Hsbc Holdings PLC Sells 3,504,092 Shares of Banco Bradesco SA $BBD

Key Points

• Hsbc Holdings PLC reduced its stake in Banco Bradesco SA by 63.3%, selling 3,504,092 shares, leaving it with 2,029,950 shares valued at approximately $4.5 million.
• Banco Bradesco recently announced a dividend of $0.0023, a significant increase from its previous dividend of $0.00, with a dividend yield of 99.0%.
• Multiple analysts have upgraded Banco Bradesco's stock ratings, with Citigroup and Bank of America both changing their ratings from “hold” to “buy.”

Hsbc Holdings PLC decreased its position in Banco Bradesco SA (NYSE:BBD - Free Report) by 63.3% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,029,950 shares of the bank's stock after selling 3,504,092 shares during the quarter. Hsbc Holdings PLC's holdings in Banco Bradesco were worth $4,525,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in BBD. Traveka Wealth LLC increased its position in shares of Banco Bradesco by 29.9% during the 1st quarter. Traveka Wealth LLC now owns 21,333 shares of the bank's stock valued at $48,000 after purchasing an additional 4,910 shares during the last quarter. Inspire Advisors LLC grew its position in shares of Banco Bradesco by 14.5% during the 1st quarter. Inspire Advisors LLC now owns 67,833 shares of the bank's stock worth $151,000 after buying an additional 8,589 shares in the last quarter. PDS Planning Inc grew its position in shares of Banco Bradesco by 48.2% during the 1st quarter. PDS Planning Inc now owns 28,765 shares of the bank's stock worth $64,000 after buying an additional 9,349 shares in the last quarter. Eagle Bay Advisors LLC grew its position in shares of Banco Bradesco by 35.0% during the 1st quarter. Eagle Bay Advisors LLC now owns 37,000 shares of the bank's stock worth $85,000 after buying an additional 9,600 shares in the last quarter. Finally, Simplicity Wealth LLC bought a new position in shares of Banco Bradesco during the 1st quarter worth $26,000.

Banco Bradesco Price Performance

NYSE:BBD opened at $3.00 on Tuesday. Banco Bradesco SA has a 52 week low of $1.84 and a 52 week high of $3.13. 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 company has a market capitalization of $31.93 billion, a P/E ratio of 8.57, a P/E/G ratio of 0.41 and a beta of 0.68. The stock's fifty day moving average is $2.94 and its two-hundred day moving average is $2.57.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting analysts' consensus estimates of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Equities analysts expect that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a dividend, which will be paid on Thursday, September 11th. Stockholders of record on Wednesday, August 6th will be paid a $0.0023 dividend. The ex-dividend date of this dividend is Tuesday, August 5th. This is a boost from Banco Bradesco's previous dividend of $0.00. This represents a dividend yield of 99.0%. Banco Bradesco's payout ratio is presently 5.71%.

Wall Street Analysts Forecast Growth

BBD has been the subject of a number of analyst reports. Citigroup upgraded Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research note 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. According to data from MarketBeat.com, Banco Bradesco presently has an average 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.

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