Banco Bradesco S.A. (NYSE:BBD) Shares Sold by New York State Common Retirement Fund

New York State Common Retirement Fund trimmed its holdings in Banco Bradesco S.A. (NYSE:BBD) by 7.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,691,836 shares of the bank’s stock after selling 144,112 shares during the period. New York State Common Retirement Fund’s holdings in Banco Bradesco were worth $5,921,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. Bleakley Financial Group LLC bought a new stake in shares of Banco Bradesco in the fourth quarter worth $161,000. American Century Companies Inc. increased its position in shares of Banco Bradesco by 13.3% in the 3rd quarter. American Century Companies Inc. now owns 2,454,501 shares of the bank’s stock worth $6,995,000 after purchasing an additional 288,728 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Banco Bradesco by 35.6% in the 3rd 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 in the last quarter. Ballentine Partners LLC lifted its position in shares of Banco Bradesco by 54.8% during the fourth quarter. Ballentine Partners LLC now owns 39,301 shares of the bank’s stock worth $138,000 after purchasing an additional 13,908 shares during the last quarter. Finally, SVB Wealth LLC grew its stake in Banco Bradesco by 11.3% in the fourth quarter. SVB Wealth LLC now owns 38,140 shares of the bank’s stock worth $133,000 after purchasing an additional 3,868 shares in the last quarter.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Down 0.2 %

NYSE:BBD opened at $2.72 on Friday. Banco Bradesco S.A. has a 52 week low of $2.60 and a 52 week high of $3.68. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. The stock has a 50 day moving average of $2.79 and a 200-day moving average of $3.03.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 6th will be paid a $0.0036 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date is Friday, May 3rd. Banco Bradesco’s payout ratio is 14.29%.

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.