Bank of New York Mellon Corp Sells 28,210 Shares of Banco Bradesco S.A. (NYSE:BBD)

Bank of New York Mellon Corp lessened its stake in Banco Bradesco S.A. (NYSE:BBD) by 2.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,130,473 shares of the bank’s stock after selling 28,210 shares during the quarter. Bank of New York Mellon Corp’s holdings in Banco Bradesco were worth $2,159,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the stock. Townsquare Capital LLC bought a new stake in Banco Bradesco during the third quarter worth $37,000. R Squared Ltd bought a new stake in Banco Bradesco during the fourth quarter worth $30,000. Traveka Wealth LLC bought a new stake in Banco Bradesco during the fourth quarter worth $31,000. Blue Trust Inc. lifted its holdings in Banco Bradesco by 78.2% during the fourth quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock worth $38,000 after acquiring an additional 8,801 shares during the period. Finally, Insigneo Advisory Services LLC lifted its holdings in Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after acquiring an additional 4,260 shares during the period.

Analyst Ratings Changes

A number of analysts recently commented on BBD shares. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and dropped their price target for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. Finally, HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th.

Banco Bradesco Stock Performance

NYSE:BBD opened at $2.24 on Friday. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The business has a fifty day simple moving average of $2.06 and a two-hundred day simple moving average of $2.27. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.98. The company has a market capitalization of $23.79 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, analysts expect that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, May 9th. Shareholders of record on Thursday, April 3rd will be given a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.79%. The ex-dividend date of this dividend is Thursday, April 3rd. Banco Bradesco’s dividend payout ratio (DPR) is currently 6.67%.

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.