Pendal Group Ltd trimmed its stake in Banco Bradesco SA (NYSE:BBD) by 25.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,355,410 shares of the bank’s stock after selling 467,590 shares during the period. Pendal Group Ltd’s holdings in Banco Bradesco were worth $12,787,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently bought and sold shares of BBD. ClariVest Asset Management LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter worth approximately $7,920,000. Marietta Investment Partners LLC bought a new position in Banco Bradesco in the 1st quarter valued at $2,853,000. BNP Paribas Arbitrage SA boosted its holdings in Banco Bradesco by 98.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 764,762 shares of the bank’s stock valued at $8,344,000 after purchasing an additional 380,226 shares during the period. Evergreen Capital Management LLC bought a new position in Banco Bradesco in the 1st quarter valued at $158,000. Finally, Brandywine Oak Private Wealth LLC boosted its holdings in Banco Bradesco by 27.9% in the 2nd quarter. Brandywine Oak Private Wealth LLC now owns 13,721 shares of the bank’s stock valued at $134,000 after purchasing an additional 2,995 shares during the period. Institutional investors and hedge funds own 2.18% of the company’s stock.

A number of research firms have recently issued reports on BBD. ValuEngine downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Wednesday, July 31st. Morgan Stanley raised shares of Banco Bradesco from an “equal weight” rating to an “overweight” rating in a report on Wednesday, August 7th. Goldman Sachs Group started coverage on shares of Banco Bradesco in a report on Monday, June 10th. They set a “sell” rating and a $9.58 price objective for the company. Finally, Zacks Investment Research upgraded shares of Banco Bradesco from a “sell” rating to a “hold” rating in a research report on Thursday, August 8th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $10.29.

NYSE:BBD traded up $0.12 during trading hours on Tuesday, reaching $8.58. The company’s stock had a trading volume of 11,262,817 shares, compared to its average volume of 14,350,491. The company has a market capitalization of $83.04 billion, a price-to-earnings ratio of 12.08, a price-to-earnings-growth ratio of 0.50 and a beta of 0.93. The firm’s 50-day moving average price is $9.63. Banco Bradesco SA has a 1 year low of $5.41 and a 1 year high of $10.55. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.15 and a quick ratio of 1.10.

The firm 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 $0.004 dividend. This represents a $0.05 dividend on an annualized basis and a yield of 0.56%. The ex-dividend date is Tuesday, September 3rd. Banco Bradesco’s payout ratio is presently 7.04%.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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

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