Envestnet Asset Management Inc. decreased its stake in shares of Banco Bradesco S.A. (NYSE:BBD - Free Report) by 16.3% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 736,626 shares of the bank's stock after selling 143,621 shares during the period. Envestnet Asset Management Inc.'s holdings in Banco Bradesco were worth $1,407,000 as of its most recent filing with the SEC.
A number of other institutional investors have also 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 boosted its position 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 valued at $9,598,000 after acquiring an additional 2,470,135 shares during the period. JPMorgan Chase & Co. grew its stake in shares of Banco Bradesco by 152.6% in the third quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank's stock worth $731,000 after acquiring an additional 166,008 shares during the last quarter. Eagle Bay Advisors LLC grew its stake in shares of Banco Bradesco by 37.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock worth $54,000 after acquiring an additional 7,400 shares during the last quarter. Finally, Traveka Wealth LLC bought a new position in Banco Bradesco during the fourth quarter worth $31,000.
Wall Street Analysts Forecast Growth
Several analysts have issued reports on BBD shares. The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and decreased their price target for the stock from $2.40 to $2.00 in a research report on Wednesday, February 12th. HSBC upgraded Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target on the stock in a research note on Monday, January 13th.
View Our Latest Stock Report on Banco Bradesco
Banco Bradesco Stock Performance
BBD traded down $0.01 during trading on Friday, reaching $2.41. 34,024,810 shares of the company's stock were exchanged, compared to its average volume of 32,304,545. The company has a market capitalization of $25.65 billion, a P/E ratio of 8.03, a PEG ratio of 0.32 and a beta of 0.56. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The business has a 50 day moving average price of $2.18 and a 200 day moving average price of $2.17. Banco Bradesco S.A. has a fifty-two week low of $1.84 and a fifty-two week high of $2.96.
Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share 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%. As a group, analysts predict that Banco Bradesco S.A. will post 0.37 earnings per share for the current fiscal year.
Banco Bradesco Cuts Dividend
The business also recently disclosed a dividend, which will be paid on Monday, June 9th. Shareholders of record on Wednesday, May 7th will be issued a dividend of $0.0022 per share. The ex-dividend date is Tuesday, May 6th. This represents a dividend yield of 1.08%. Banco Bradesco's payout ratio is presently 6.67%.
About Banco Bradesco
(
Free Report)
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.
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