Vontobel Holding Ltd. Lowers Stock Holdings in Banco Bradesco S.A. (NYSE:BBD)

Vontobel Holding Ltd. cut its holdings in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 26.6% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,673,571 shares of the bank's stock after selling 968,502 shares during the quarter. Vontobel Holding Ltd.'s holdings in Banco Bradesco were worth $7,112,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in BBD. Doma Perpetual Capital Management LLC boosted its holdings in shares of Banco Bradesco by 403.4% during the 2nd quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank's stock valued at $25,096,000 after acquiring an additional 8,978,150 shares during the last quarter. Marshall Wace LLP boosted its holdings in Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank's stock worth $17,705,000 after purchasing an additional 7,783,248 shares during the last quarter. Itau Unibanco Holding S.A. boosted its holdings in Banco Bradesco by 17.5% in the second quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank's stock worth $51,963,000 after purchasing an additional 3,577,428 shares during the last quarter. Algebris UK Ltd bought a new stake in Banco Bradesco in the 1st quarter worth approximately $7,075,000. Finally, Millennium Management LLC raised its stake in Banco Bradesco by 44.9% during the 2nd quarter. Millennium Management LLC now owns 7,629,716 shares of the bank's stock valued at $17,091,000 after buying an additional 2,364,963 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded down $0.02 during trading hours on Friday, reaching $2.66. 31,275,537 shares of the stock traded hands, compared to its average volume of 21,382,635. Banco Bradesco S.A. has a one year low of $2.16 and a one year high of $3.65. The firm has a market capitalization of $28.30 billion, a price-to-earnings ratio of 11.54, a P/E/G ratio of 0.30 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average price of $2.75 and a 200 day moving average price of $2.58.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The company had revenue of $9.64 billion during the quarter, compared to analyst estimates of $5.47 billion. On average, equities research analysts expect that Banco Bradesco S.A. will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, November 8th. Stockholders of record on Thursday, October 3rd will be paid a $0.0026 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.03 annualized dividend and a dividend yield of 1.17%. Banco Bradesco's dividend payout ratio (DPR) is 13.04%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a "neutral" rating to a "buy" rating and raised their price target for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

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.