Wellington Management Group LLP Lowers Stock Holdings in Banco Bradesco SA $BBD

Wellington Management Group LLP lessened its stake in Banco Bradesco SA (NYSE:BBD) by 6.3% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 73,499,659 shares of the bank’s stock after selling 4,970,038 shares during the period. Wellington Management Group LLP’s holdings in Banco Bradesco were worth $255,044,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its stake in Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after acquiring an additional 4,353 shares during the last quarter. Brooklyn Investment Group grew its stake in shares of Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares during the last quarter. Global Wealth Strategies & Associates purchased a new position in shares of Banco Bradesco in the 2nd quarter valued at approximately $38,000. Wayfinding Financial LLC acquired a new position in shares of Banco Bradesco in the second quarter valued at approximately $40,000. Finally, Ballentine Partners LLC acquired a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $41,000.

Banco Bradesco Price Performance

Shares of BBD opened at $3.26 on Monday. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock’s 50 day moving average is $3.42 and its two-hundred day moving average is $3.62. Banco Bradesco SA has a twelve month low of $2.96 and a twelve month high of $4.30. The firm has a market capitalization of $34.55 billion, a PE ratio of 7.76, a P/E/G ratio of 0.40 and a beta of 0.53.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Research analysts anticipate that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 3rd will be issued a dividend of $0.0037 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 3rd. Banco Bradesco’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.