Envestnet Asset Management Inc. Reduces Position in Banco Bradesco S.A. (NYSE:BBD)

Envestnet Asset Management Inc. reduced its position in Banco Bradesco S.A. (NYSE:BBD - Free Report) by 16.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 736,626 shares of the bank's stock after selling 143,621 shares during the quarter. Envestnet Asset Management Inc.'s holdings in Banco Bradesco were worth $1,407,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in BBD. Franklin Resources Inc. boosted its stake in Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank's stock valued at $120,122,000 after purchasing an additional 1,139,470 shares during the period. SPX Gestao de Recursos Ltda grew its stake in shares of Banco Bradesco by 217.0% in the third quarter. SPX Gestao de Recursos Ltda now owns 3,608,320 shares of the bank's stock worth $9,598,000 after purchasing an additional 2,470,135 shares in the last quarter. JPMorgan Chase & Co. increased its holdings in shares of Banco Bradesco by 152.6% during the third quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank's stock valued at $731,000 after purchasing an additional 166,008 shares during the period. Eagle Bay Advisors LLC grew its position in Banco Bradesco by 37.0% in the 4th quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock valued at $54,000 after buying an additional 7,400 shares in the last quarter. Finally, Traveka Wealth LLC acquired a new stake in shares of Banco Bradesco in the 4th quarter worth approximately $31,000.

Analysts Set New Price Targets

BBD has been the subject of a number of research analyst reports. HSBC upgraded Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price for the company in a research report on Monday, January 13th. The Goldman Sachs Group cut shares of Banco Bradesco from a "buy" rating to a "sell" rating and dropped their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th.

Banco Bradesco Stock Up 0.2 %

NYSE BBD traded up $0.01 on Monday, reaching $2.41. The stock had a trading volume of 2,274,733 shares, compared to its average volume of 43,234,555. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. Banco Bradesco S.A. has a 1 year low of $1.84 and a 1 year high of $2.96. The business has a 50 day moving average price of $2.19 and a 200 day moving average price of $2.17. The company has a market capitalization of $25.59 billion, a price-to-earnings ratio of 8.02, a P/E/G ratio of 0.32 and a beta of 0.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, analysts forecast that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be given a $0.0022 dividend. This represents a yield of 1.08%. The ex-dividend date is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is currently 6.67%.

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.