abrdn plc Sells 254,960 Shares of Banco Bradesco S.A. (NYSE:BBD)

abrdn plc decreased its holdings in Banco Bradesco S.A. (NYSE:BBD) by 2.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 9,576,408 shares of the bank’s stock after selling 254,960 shares during the period. abrdn plc’s holdings in Banco Bradesco were worth $33,517,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently bought and sold shares of BBD. Causeway Capital Management LLC raised its stake in Banco Bradesco by 43.4% in the third quarter. Causeway Capital Management LLC now owns 64,072,052 shares of the bank’s stock worth $182,605,000 after buying an additional 19,404,902 shares in the last quarter. Massachusetts Financial Services Co. MA increased 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 purchasing an additional 5,624,225 shares in the last quarter. Itau Unibanco Holding S.A. increased its position in shares of Banco Bradesco by 48.3% during the third quarter. Itau Unibanco Holding S.A. now owns 12,021,725 shares of the bank’s stock worth $34,262,000 after purchasing an additional 3,914,265 shares in the last quarter. New York State Common Retirement Fund increased its position in shares of Banco Bradesco by 202.8% during the third quarter. New York State Common Retirement Fund now owns 1,835,948 shares of the bank’s stock worth $5,232,000 after purchasing an additional 1,229,660 shares in the last quarter. Finally, Oaktree Capital Management LP increased 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 purchasing an additional 926,807 shares in the last quarter.

Banco Bradesco Price Performance

NYSE BBD opened at $2.65 on Tuesday. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.97. The stock’s fifty day moving average price is $2.80 and its 200 day moving average price is $3.04. Banco Bradesco S.A. has a 1 year low of $2.60 and a 1 year high of $3.68.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 6th will be given a $0.0036 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.64%. The ex-dividend date of this dividend is Friday, May 3rd. Banco Bradesco’s payout ratio is 14.29%.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on BBD shares. Jefferies Financial Group downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th. The Goldman Sachs Group raised 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. Finally, HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

About Banco Bradesco

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.