Allspring Global Investments Holdings LLC Has $17.90 Million Position in Banco Bradesco SA (NYSE:BBD)

Allspring Global Investments Holdings LLC trimmed its position in Banco Bradesco SA (NYSE:BBD) by 4.7% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 7,954,282 shares of the bank’s stock after selling 393,482 shares during the period. Allspring Global Investments Holdings LLC owned approximately 0.07% of Banco Bradesco worth $17,897,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of BBD. Simplicity Wealth LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at $26,000. BSW Wealth Partners acquired a new stake in shares of Banco Bradesco during the first quarter worth about $29,000. Peapack Gladstone Financial Corp lifted its holdings in shares of Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after purchasing an additional 6,000 shares in the last quarter. Merit Financial Group LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at approximately $37,000. Finally, Stifel Financial Corp bought a new stake in Banco Bradesco during the 4th quarter worth approximately $39,000.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BBD shares. Citigroup upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. Bank of America raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.04 on Thursday. Banco Bradesco SA has a 12 month low of $1.84 and a 12 month high of $3.13. The company’s fifty day simple moving average is $2.80 and its 200-day simple moving average is $2.32. The firm has a market cap of $32.35 billion, a PE ratio of 9.50, a P/E/G ratio of 0.45 and a beta of 0.71. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. The firm had revenue of $5.69 billion for the quarter, compared to analysts’ expectations of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. Equities research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a — dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Wednesday, July 2nd will be paid a $0.0351 dividend. The ex-dividend date of this dividend is Wednesday, July 2nd. This represents a yield of 4.7%. Banco Bradesco’s dividend payout ratio is 9.38%.

Banco Bradesco 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.