Envestnet Asset Management Inc. Has $1.95 Million Holdings in Banco Bradesco SA $BBD

Envestnet Asset Management Inc. decreased its stake in Banco Bradesco SA (NYSE:BBD) by 20.1% during the 2nd quarter, HoldingsChannel reports. The fund owned 632,510 shares of the bank’s stock after selling 159,420 shares during the period. Envestnet Asset Management Inc.’s holdings in Banco Bradesco were worth $1,954,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Aprio Wealth Management LLC bought a new stake in Banco Bradesco in the 1st quarter valued at $25,000. GAMMA Investing LLC raised its position in shares of Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after buying an additional 3,864 shares during the last quarter. Dorsey & Whitney Trust CO LLC bought a new stake in shares of Banco Bradesco in the first quarter valued at about $26,000. Sigma Planning Corp acquired a new stake in Banco Bradesco during the first quarter worth about $43,000. Finally, Sumitomo Mitsui DS Asset Management Company Ltd bought a new position in Banco Bradesco during the second quarter valued at about $45,000.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $3.60 on Wednesday. The business has a 50 day simple moving average of $3.34 and a 200 day simple moving average of $3.06. Banco Bradesco SA has a one year low of $1.84 and a one year high of $3.77. The company has a market capitalization of $38.26 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a return on equity of 13.16% and a net margin of 9.61%.The company had revenue of $11.14 billion for the quarter, compared to analyst estimates of $34.75 billion. On average, sell-side analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be issued a dividend of $0.0035 per share. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a c) annualized dividend and a yield of 1.2%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 5.71%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Profile

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.