Vontobel Holding Ltd. Sells 2,910,433 Shares of Banco Bradesco SA (NYSE:BBD)

Vontobel Holding Ltd. cut its position in Banco Bradesco SA (NYSE:BBD - Free Report) by 99.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 15,136 shares of the bank's stock after selling 2,910,433 shares during the quarter. Vontobel Holding Ltd.'s holdings in Banco Bradesco were worth $34,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Northern Trust Corp lifted its position in shares of Banco Bradesco by 11.4% in the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock worth $7,864,000 after buying an additional 421,994 shares during the last quarter. BNP Paribas Financial Markets raised its position in shares of Banco Bradesco by 431.3% during the 4th quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock worth $13,762,000 after buying an additional 5,848,994 shares in the last quarter. Raymond James Financial Inc. acquired a new position in shares of Banco Bradesco in the 4th quarter worth approximately $3,222,000. Natixis Advisors LLC grew its stake in shares of Banco Bradesco by 1,334.2% in the 4th quarter. Natixis Advisors LLC now owns 3,759,101 shares of the bank's stock worth $7,180,000 after purchasing an additional 3,496,994 shares during the last quarter. Finally, HighTower Advisors LLC grew 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 during the last quarter.

Banco Bradesco Stock Down 0.7%

BBD stock traded down $0.02 during trading hours on Friday, hitting $2.90. The company's stock had a trading volume of 37,787,895 shares, compared to its average volume of 37,078,180. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. The company has a market capitalization of $30.86 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.42 and a beta of 0.71. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.13. The stock has a 50 day moving average price of $2.88 and a two-hundred day moving average price of $2.37.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $5.69 billion during the quarter, compared to analysts' expectations of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. On average, equities research analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a -- dividend, which will be paid on Tuesday, February 10th. Stockholders of record on Wednesday, July 2nd will be paid a $0.0351 dividend. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 2nd. Banco Bradesco's dividend payout ratio is 9.38%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.