Vontobel Holding Ltd. Buys 805,877 Shares of Banco Bradesco S.A. (NYSE:BBD)

Vontobel Holding Ltd. grew its stake in shares of Banco Bradesco S.A. (NYSE:BBD) by 11.4% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 7,878,706 shares of the bank’s stock after purchasing an additional 805,877 shares during the period. Vontobel Holding Ltd.’s holdings in Banco Bradesco were worth $27,575,000 as of its most recent filing with the SEC.

Several other institutional investors also recently modified their holdings of the business. BlackRock Inc. grew its holdings in shares of Banco Bradesco by 48.4% in the first quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock valued at $188,924,000 after acquiring an additional 23,517,670 shares in the last quarter. Causeway Capital Management LLC lifted its position in shares of Banco Bradesco by 43.4% during the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock worth $182,605,000 after acquiring an additional 19,404,902 shares in the last quarter. Oaktree Capital Management LP lifted its position in shares of Banco Bradesco by 3.0% during the third quarter. Oaktree Capital Management LP now owns 31,742,126 shares of the bank’s stock worth $90,465,000 after acquiring an additional 926,807 shares in the last quarter. Macquarie Group Ltd. lifted its position in shares of Banco Bradesco by 7.7% during the first quarter. Macquarie Group Ltd. now owns 24,224,185 shares of the bank’s stock worth $63,467,000 after acquiring an additional 1,732,700 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Banco Bradesco by 35.8% during the third quarter. Massachusetts Financial Services Co. MA now owns 21,319,038 shares of the bank’s stock worth $60,759,000 after acquiring an additional 5,624,225 shares in the last quarter.

Analyst Ratings Changes

BBD has been the topic of a number of recent analyst reports. The Goldman Sachs Group upgraded Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price objective on the stock in a research report on Tuesday, February 20th. Jefferies Financial Group cut Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, HSBC cut Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th.

Banco Bradesco Price Performance

Shares of BBD opened at $2.77 on Monday. The company has a 50-day simple moving average of $2.83 and a two-hundred day simple moving average of $3.05. Banco Bradesco S.A. has a one year low of $2.61 and a one year high of $3.68. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.0038 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.05 annualized dividend and a dividend 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.