TCW Group Inc. Trims Holdings in Banco Bradesco SA (NYSE:BBD)

TCW Group Inc. decreased its position in shares of Banco Bradesco SA (NYSE:BBD) by 55.6% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 105,300 shares of the bank’s stock after selling 131,900 shares during the quarter. TCW Group Inc.’s holdings in Banco Bradesco were worth $1,149,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Marietta Investment Partners LLC acquired a new position in Banco Bradesco during the 1st quarter worth $2,853,000. BNP Paribas Arbitrage SA raised its position in shares of Banco Bradesco by 98.9% during the 1st quarter. BNP Paribas Arbitrage SA now owns 764,762 shares of the bank’s stock valued at $8,344,000 after acquiring an additional 380,226 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Banco Bradesco during the 4th quarter valued at $1,860,000. Baillie Gifford & Co. raised its position in shares of Banco Bradesco by 5.7% during the 4th quarter. Baillie Gifford & Co. now owns 21,015,442 shares of the bank’s stock valued at $207,843,000 after acquiring an additional 1,136,159 shares during the last quarter. Finally, Dimensional Fund Advisors LP raised its position in shares of Banco Bradesco by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 15,005,735 shares of the bank’s stock valued at $148,416,000 after acquiring an additional 148,882 shares during the last quarter. 2.47% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Banco Bradesco stock traded down $0.03 on Thursday, hitting $9.37. 406,605 shares of the company’s stock traded hands, compared to its average volume of 13,295,624. The stock has a market capitalization of $92.53 billion, a price-to-earnings ratio of 13.21, a PEG ratio of 0.55 and a beta of 0.94. Banco Bradesco SA has a one year low of $5.41 and a one year high of $10.46. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.10.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, April 25th. The bank reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. Banco Bradesco had a net margin of 15.96% and a return on equity of 18.75%. The company had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $6.51 billion. As a group, research analysts forecast that Banco Bradesco SA will post 0.78 EPS for the current fiscal year.

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, July 9th. Investors of record on Wednesday, June 5th will be given a $0.0047 dividend. The ex-dividend date is Tuesday, June 4th. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.60%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 5.63%.

Several analysts have commented on BBD shares. ValuEngine cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Thursday, March 21st. Zacks Investment Research cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Thursday, April 4th. Goldman Sachs Group started coverage on shares of Banco Bradesco in a research report on Monday. They set a “sell” rating and a $9.58 target price for the company. Finally, Scotiabank cut shares of Banco Bradesco from a “sector perform” rating to an “underperform” rating in a research report on Tuesday, February 26th. Three research analysts have rated the stock with a sell rating, two have issued a hold rating and two have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $9.79.

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Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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Institutional Ownership by Quarter for Banco Bradesco (NYSE:BBD)

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