Capstone Asset Management Co. lowered its stake in shares of Banco Bradesco SA (NYSE:BBD) by 1.8% during the third quarter, Holdings Channel reports. The firm owned 394,019 shares of the company’s stock after selling 7,110 shares during the period. Capstone Asset Management Co.’s holdings in Banco Bradesco SA were worth $3,574,000 as of its most recent filing with the SEC.

A number of other large investors have also added to or reduced their stakes in BBD. BP PLC increased its stake in Banco Bradesco SA by 36.1% in the second quarter. BP PLC now owns 2,578,327 shares of the company’s stock valued at $20,111,000 after buying an additional 684,393 shares during the period. Sprucegrove Investment Management Ltd. increased its stake in Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares during the period. Harding Loevner LP increased its stake in Banco Bradesco SA by 5.1% in the third quarter. Harding Loevner LP now owns 19,655,739 shares of the company’s stock valued at $178,278,000 after buying an additional 956,064 shares during the period. Aberdeen Asset Management PLC UK increased its stake in Banco Bradesco SA by 2.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 175,029,960 shares of the company’s stock valued at $1,366,984,000 after buying an additional 3,635,973 shares during the period. Finally, Eqis Capital Management Inc. increased its stake in Banco Bradesco SA by 12.7% in the second quarter. Eqis Capital Management Inc. now owns 37,913 shares of the company’s stock valued at $296,000 after buying an additional 4,269 shares during the period. 2.62% of the stock is currently owned by institutional investors and hedge funds.

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

Shares of Banco Bradesco SA (NYSE:BBD) traded up 1.76% during midday trading on Wednesday, reaching $8.65. 17,768,812 shares of the company were exchanged. The company has a 50 day moving average price of $9.49 and a 200-day moving average price of $8.56. Banco Bradesco SA has a 12-month low of $3.65 and a 12-month high of $10.49. The stock has a market capitalization of $47.85 billion, a P/E ratio of 9.63 and a beta of 1.77.

The firm also recently disclosed a dividend, which will be paid on Tuesday, December 6th. Investors of record on Tuesday, December 6th will be issued a $0.005 dividend. The ex-dividend date is Friday, December 2nd. Banco Bradesco SA’s payout ratio is 7.60%.

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BBD has been the topic of several recent research reports. Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $9.30 price objective on shares of Banco Bradesco SA in a report on Wednesday, September 21st. Zacks Investment Research downgraded shares of Banco Bradesco SA from a “buy” rating to a “hold” rating in a report on Thursday, November 17th. Finally, Citigroup Inc. reissued a “buy” rating on shares of Banco Bradesco SA in a report on Wednesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. Banco Bradesco SA has a consensus rating of “Hold” and a consensus price target of $8.65.

About Banco Bradesco SA

Banco Bradesco SA (Bradesco) is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment.

5 Day Chart for NYSE:BBD

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