INCA Investments LLC Sells 677,450 Shares of Banco Bradesco S.A. (NYSE:BBD)

INCA Investments LLC lowered its position in shares of Banco Bradesco S.A. (NYSE:BBD) by 43.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 890,061 shares of the bank’s stock after selling 677,450 shares during the quarter. Banco Bradesco comprises approximately 1.4% of INCA Investments LLC’s portfolio, making the stock its 11th biggest position. INCA Investments LLC’s holdings in Banco Bradesco were worth $3,115,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of BBD. LGT Group Foundation purchased a new position in Banco Bradesco during the third quarter valued at $30,000. HTLF Bank bought a new position in Banco Bradesco in the 4th quarter worth about $42,000. TIAA Trust National Association purchased a new stake in Banco Bradesco during the 3rd quarter valued at about $35,000. Envestnet Portfolio Solutions Inc. bought a new stake in Banco Bradesco during the 3rd quarter valued at about $36,000. Finally, Lindbrook Capital LLC raised its holdings in Banco Bradesco by 120.5% in the fourth quarter. Lindbrook Capital LLC now owns 13,510 shares of the bank’s stock worth $47,000 after buying an additional 7,382 shares during the last quarter.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on BBD shares. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target for the company in a research report on Tuesday, February 20th. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Finally, Jefferies Financial Group lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco Stock Up 1.1 %

NYSE:BBD traded up $0.03 during trading hours on Monday, reaching $2.75. The company had a trading volume of 12,647,490 shares, compared to its average volume of 16,571,705. The firm’s 50 day moving average price is $2.80 and its 200-day moving average price is $3.03. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco S.A. has a 52 week low of $2.60 and a 52 week high of $3.68.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 6th will be issued a $0.0036 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.58%. The ex-dividend date of this dividend is Friday, May 3rd. Banco Bradesco’s payout ratio is currently 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.