Massachusetts Financial Services Co. MA Sells 392,628 Shares of Banco Bradesco S.A. (NYSE:BBD)

Massachusetts Financial Services Co. MA lowered its stake in Banco Bradesco S.A. (NYSE:BBD) by 1.2% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 32,520,970 shares of the bank’s stock after selling 392,628 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Banco Bradesco were worth $72,847,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also added to or reduced their stakes in BBD. Truist Financial Corp boosted its stake in Banco Bradesco by 13.0% in the 4th quarter. Truist Financial Corp now owns 71,973 shares of the bank’s stock worth $252,000 after purchasing an additional 8,297 shares during the period. Vanguard Personalized Indexing Management LLC bought a new stake in shares of Banco Bradesco during the 4th quarter valued at about $46,000. PNC Financial Services Group Inc. boosted its position in shares of Banco Bradesco by 26.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock valued at $732,000 after acquiring an additional 43,837 shares during the last quarter. Aigen Investment Management LP bought a new stake in shares of Banco Bradesco during the 4th quarter valued at about $43,000. Finally, IPG Investment Advisors LLC bought a new stake in shares of Banco Bradesco during the 4th quarter valued at about $95,000.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Stock Performance

Shares of BBD opened at $2.77 on Thursday. The company has a market cap of $29.52 billion, a PE ratio of 12.04, a price-to-earnings-growth ratio of 0.31 and a beta of 0.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average price of $2.59 and a 200-day moving average price of $2.60. Banco Bradesco S.A. has a 12-month low of $2.16 and a 12-month high of $3.65.

Banco Bradesco (NYSE:BBD) last released its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The company had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. As a group, equities analysts forecast that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be given a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.50%. Banco Bradesco’s payout ratio is 13.04%.

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.