Public Employees Retirement System of Ohio Decreases Stake in Banco Bradesco SA $BBD

Public Employees Retirement System of Ohio reduced its position in Banco Bradesco SA (NYSE:BBD) by 48.5% during the first quarter, HoldingsChannel reports. The fund owned 4,054,139 shares of the bank’s stock after selling 3,812,394 shares during the quarter. Public Employees Retirement System of Ohio’s holdings in Banco Bradesco were worth $14,798,000 as of its most recent filing with the SEC.

Other institutional investors have also added to or reduced their stakes in the company. Inspire Investing LLC boosted its position in Banco Bradesco by 11.4% during the fourth quarter. Inspire Investing LLC now owns 25,331 shares of the bank’s stock worth $84,000 after purchasing an additional 2,597 shares during the period. Compound Planning Inc. raised its position in shares of Banco Bradesco by 2.1% in the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock valued at $579,000 after purchasing an additional 3,247 shares during the period. Corient Private Wealth LLC raised its position in shares of Banco Bradesco by 8.8% in the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after purchasing an additional 3,402 shares during the period. Cetera Investment Advisers raised its position in shares of Banco Bradesco by 16.7% in the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock valued at $90,000 after purchasing an additional 3,519 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Banco Bradesco by 40.1% during the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after buying an additional 3,619 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. One analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, Banco Bradesco currently has a consensus rating of “Moderate Buy”.

Banco Bradesco Stock Down 0.1%

BBD stock opened at $3.60 on Monday. The stock has a 50-day simple moving average of $3.48 and a two-hundred day simple moving average of $3.70. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17. Banco Bradesco SA has a twelve month low of $2.73 and a twelve month high of $4.30. The firm has a market capitalization of $38.10 billion, a PE ratio of 9.22, a PEG ratio of 0.45 and a beta of 0.53.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. The business had revenue of $1.50 billion for the quarter. On average, equities analysts predict that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.0037 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s payout ratio is 20.51%.

Banco Bradesco Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.