Banco Bradesco (BBD) Holdings Lessened by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its holdings in Banco Bradesco (NYSE:BBD) by 11.1% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 39,685 shares of the bank’s stock after selling 4,976 shares during the period. Envestnet Asset Management Inc.’s holdings in Banco Bradesco were worth $406,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in BBD. Signaturefd LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $109,000. Quantitative Systematic Strategies LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $151,000. Premia Global Advisors LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $155,000. Advisor Partners LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $161,000. Finally, HBK Investments L P acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $198,000. 2.62% of the stock is currently owned by institutional investors.

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BBD stock opened at $9.69 on Tuesday. The company has a market cap of $72,672.21, a P/E ratio of 10.89, a PEG ratio of 0.59 and a beta of 1.83. Banco Bradesco has a 12-month low of $7.83 and a 12-month high of $13.18.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, February 1st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The business had revenue of $9.90 billion for the quarter, compared to analyst estimates of $8.20 billion. Banco Bradesco had a return on equity of 17.44% and a net margin of 9.87%. research analysts predict that Banco Bradesco will post 0.84 earnings per share for the current year.

The company also recently declared a special dividend, which will be paid on Friday, June 8th. Investors of record on Friday, May 4th will be given a dividend of $0.0056 per share. This represents a dividend yield of 0.7%. The ex-dividend date is Thursday, May 3rd. Banco Bradesco’s dividend payout ratio is currently 6.74%.

BBD has been the topic of a number of recent analyst reports. Zacks Investment Research raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a research report on Wednesday, January 3rd. Citigroup raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th. JPMorgan Chase raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Finally, ValuEngine raised Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Two analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of “Buy” and a consensus target price of $12.20.

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About Banco Bradesco

Banco Bradesco SA provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates in two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.

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

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