Banco Bradesco S.A. (NYSE:BBD) Shares Sold by Sprucegrove Investment Management Ltd.

Sprucegrove Investment Management Ltd. lowered its position in Banco Bradesco S.A. (NYSE:BBD) by 4.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,744,947 shares of the bank’s stock after selling 3,927,200 shares during the quarter. Banco Bradesco makes up about 11.8% of Sprucegrove Investment Management Ltd.’s investment portfolio, making the stock its 5th largest holding. Sprucegrove Investment Management Ltd.’s holdings in Banco Bradesco were worth $272,107,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of Banco Bradesco by 35.6% in the third quarter. AQR Capital Management LLC now owns 2,929,843 shares of the bank’s stock valued at $8,350,000 after purchasing an additional 769,579 shares during the period. American Century Companies Inc. raised its position in shares of Banco Bradesco by 13.3% in the third quarter. American Century Companies Inc. now owns 2,454,501 shares of the bank’s stock valued at $6,995,000 after purchasing an additional 288,728 shares during the period. QRG Capital Management Inc. bought a new position in shares of Banco Bradesco in the third quarter valued at about $88,000. O Shaughnessy Asset Management LLC raised its position in shares of Banco Bradesco by 9.4% in the third quarter. O Shaughnessy Asset Management LLC now owns 152,385 shares of the bank’s stock valued at $434,000 after purchasing an additional 13,084 shares during the period. Finally, Ballentine Partners LLC raised its position in shares of Banco Bradesco by 54.8% in the fourth quarter. Ballentine Partners LLC now owns 39,301 shares of the bank’s stock valued at $138,000 after purchasing an additional 13,908 shares during the period.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BBD shares. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target on the stock in a research report on Tuesday, February 20th. HSBC lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, Jefferies Financial Group lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco Price Performance

NYSE:BBD traded down $0.07 during mid-day trading on Friday, reaching $2.77. 15,840,222 shares of the company’s stock were exchanged, compared to its average volume of 12,610,039. Banco Bradesco S.A. has a one year low of $2.61 and a one year high of $3.68. The business’s fifty day simple moving average is $2.83 and its two-hundred day simple moving average is $3.04. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.97.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 3rd will be paid a dividend of $0.0038 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.05 dividend on an annualized basis and a yield of 1.66%. Banco Bradesco’s payout ratio is 14.29%.

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.