Robeco Institutional Asset Management B.V. Sells 2,858,423 Shares of Banco Bradesco SA $BBD

Robeco Institutional Asset Management B.V. cut its position in shares of Banco Bradesco SA (NYSE:BBD - Free Report) by 98.4% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 46,598 shares of the bank's stock after selling 2,858,423 shares during the period. Robeco Institutional Asset Management B.V.'s holdings in Banco Bradesco were worth $144,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the stock. Riversedge Advisors LLC raised its position in shares of Banco Bradesco by 13.5% in the 2nd quarter. Riversedge Advisors LLC now owns 27,901 shares of the bank's stock worth $86,000 after acquiring an additional 3,317 shares in the last quarter. GAMMA Investing LLC increased its holdings in shares of Banco Bradesco by 92.7% in the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank's stock valued at $25,000 after purchasing an additional 3,864 shares during the period. Samalin Investment Counsel LLC boosted its stake in shares of Banco Bradesco by 8.8% in the first quarter. Samalin Investment Counsel LLC now owns 49,500 shares of the bank's stock worth $110,000 after buying an additional 4,000 shares during the last quarter. Traveka Wealth LLC boosted its stake in shares of Banco Bradesco by 29.9% in the first quarter. Traveka Wealth LLC now owns 21,333 shares of the bank's stock worth $48,000 after buying an additional 4,910 shares during the last quarter. Finally, Inspire Advisors LLC boosted its stake in shares of Banco Bradesco by 14.5% in the first quarter. Inspire Advisors LLC now owns 67,833 shares of the bank's stock worth $151,000 after buying an additional 8,589 shares during the last quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Banco Bradesco in a research report on Wednesday. Three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $2.40.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.18 on Thursday. 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's 50-day moving average price is $3.09 and its 200 day moving average price is $2.81. Banco Bradesco SA has a 52-week low of $1.84 and a 52-week high of $3.41. The stock has a market capitalization of $33.84 billion, a PE ratio of 9.09, a price-to-earnings-growth ratio of 0.38 and a beta of 0.75.

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

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 3rd will be paid a dividend of $0.0036 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, October 3rd. Banco Bradesco's dividend payout ratio is currently 8.57%.

Banco Bradesco Company 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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