Nikko Asset Management Americas Inc. cut its stake in shares of Banco Bradesco SA (NYSE:BBD) by 35.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 50,542 shares of the company’s stock after selling 27,800 shares during the period. Nikko Asset Management Americas Inc.’s holdings in Banco Bradesco SA were worth $458,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in BBD. BP PLC boosted its stake in shares of Banco Bradesco SA by 36.1% in the second quarter. BP PLC now owns 2,578,327 shares of the company’s stock valued at $20,111,000 after buying an additional 684,393 shares during the last quarter. Harding Loevner LP boosted its stake in shares of Banco Bradesco SA by 5.1% in the third quarter. Harding Loevner LP now owns 19,655,739 shares of the company’s stock valued at $178,278,000 after buying an additional 956,064 shares during the last quarter. Sprucegrove Investment Management Ltd. boosted its stake in shares of Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares during the last quarter. Aberdeen Asset Management PLC UK boosted its stake in shares of Banco Bradesco SA by 2.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 175,029,960 shares of the company’s stock valued at $1,366,984,000 after buying an additional 3,635,973 shares during the last quarter. Finally, Northwestern Mutual Investment Management Company LLC purchased a new stake in shares of Banco Bradesco SA during the second quarter valued at approximately $3,969,000. 2.62% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Banco Bradesco SA (NYSE:BBD)

Shares of Banco Bradesco SA (NYSE:BBD) traded down 1.73% during midday trading on Friday, reaching $9.63. The company’s stock had a trading volume of 12,239,939 shares. The company has a 50-day moving average price of $8.63 and a 200-day moving average price of $8.92. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $10.49. The firm has a market cap of $53.27 billion, a price-to-earnings ratio of 10.22 and a beta of 1.65.

The firm also recently declared a special dividend, which will be paid on Wednesday, February 8th. Stockholders of record on Thursday, January 5th will be given a dividend of $0.0056 per share. This represents a dividend yield of 0.8%. The ex-dividend date is Tuesday, January 3rd. Banco Bradesco SA’s dividend payout ratio is currently 7.60%.

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Several equities research analysts recently commented on BBD shares. Zacks Investment Research raised Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $9.75 price target for the company in a research note on Tuesday, January 3rd. Citigroup Inc. reissued a “buy” rating on shares of Banco Bradesco SA in a research note on Wednesday, November 30th. Finally, Goldman Sachs Group, Inc. (The) reissued a “neutral” rating and issued a $9.30 price target on shares of Banco Bradesco SA in a research note on Wednesday, September 21st. One analyst has rated the stock with a sell rating, four have given a hold rating and four have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $9.53.

About Banco Bradesco SA

Banco Bradesco SA (Bradesco) is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment.

5 Day Chart for NYSE:BBD

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