Public Employees Retirement System of Ohio Has $14.80 Million Holdings in Banco Bradesco SA $BBD

Key Points

• Ohio’s public employees’ retirement system cut its Banco Bradesco stake by 48.5% in the first quarter, selling 3.81 million shares and retaining holdings worth approximately $14.8 million.
• Other institutional investors increased their positions, including Baillie Gifford, Euro Pacific Asset Management, HSBC, and Aquamarine Financial. Aquamarine’s holdings were valued at roughly $517.1 million.
• Banco Bradesco reported quarterly earnings of $0.09 per share on $1.50 billion in revenue and declared a monthly dividend of $0.0037 per share, yielding about 1.2%. Weiss Ratings downgraded the stock to “hold,” while the broader analyst consensus remains “Moderate Buy.”

Public Employees Retirement System of Ohio trimmed its position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 48.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 4,054,139 shares of the bank's stock after selling 3,812,394 shares during the quarter. Public Employees Retirement System of Ohio's holdings in Banco Bradesco were worth $14,798,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BBD. Baillie Gifford & Co. increased its position in shares of Banco Bradesco by 36.8% during the fourth quarter. Baillie Gifford & Co. now owns 38,275,506 shares of the bank's stock worth $127,457,000 after acquiring an additional 10,301,395 shares in the last quarter. Euro Pacific Asset Management LLC lifted its position in Banco Bradesco by 77.6% in the 1st quarter. Euro Pacific Asset Management LLC now owns 1,057,281 shares of the bank's stock valued at $3,866,000 after acquiring an additional 462,080 shares in the last quarter. Hsbc Holdings PLC boosted its stake in Banco Bradesco by 18.1% during the 1st quarter. Hsbc Holdings PLC now owns 3,389,610 shares of the bank's stock valued at $12,377,000 after purchasing an additional 519,953 shares during the last quarter. Aquamarine Financial Cayman Ltd boosted its stake in Banco Bradesco by 8.1% during the 4th quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank's stock valued at $517,056,000 after purchasing an additional 11,137,145 shares during the last quarter. Finally, Calamos Advisors LLC bought a new stake in Banco Bradesco during the 4th quarter worth approximately $1,267,000.

Banco Bradesco Price Performance

Shares of NYSE BBD opened at $3.60 on Monday. The company has a market capitalization of $38.10 billion, a PE ratio of 9.22, a PEG ratio of 0.45 and a beta of 0.53. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17. The stock's 50 day moving average price is $3.48 and its 200-day moving average price is $3.70. Banco Bradesco SA has a twelve month low of $2.73 and a twelve month high of $4.30.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. On average, equities analysts anticipate that Banco Bradesco SA will post 0.5 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be issued a $0.0037 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco's payout ratio is 20.51%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday. One equities research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, Banco Bradesco has a consensus rating of "Moderate Buy".

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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