Envestnet Asset Management Inc. Acquires 130,164 Shares of Banco Bradesco S.A. (NYSE:BBD)

Envestnet Asset Management Inc. raised its holdings in Banco Bradesco S.A. (NYSE:BBD) by 206.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 193,130 shares of the bank’s stock after purchasing an additional 130,164 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Banco Bradesco were worth $908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in BBD. Veriti Management LLC bought a new position in Banco Bradesco in the 4th quarter valued at $27,000. WealthStone Inc. bought a new position in shares of Banco Bradesco during the 4th quarter worth $65,000. GVO Asset Management Ltd bought a new position in shares of Banco Bradesco during the 1st quarter worth $72,000. Edgestream Partners L.P. bought a new position in shares of Banco Bradesco during the 4th quarter worth $75,000. Finally, Advisor Partners LLC grew its stake in shares of Banco Bradesco by 40.9% during the 4th quarter. Advisor Partners LLC now owns 16,709 shares of the bank’s stock worth $88,000 after acquiring an additional 4,853 shares during the period. Hedge funds and other institutional investors own 2.17% of the company’s stock.

NYSE:BBD opened at $5.50 on Friday. The firm has a 50-day simple moving average of $4.70. Banco Bradesco S.A. has a twelve month low of $3.36 and a twelve month high of $5.70. The stock has a market cap of $53.45 billion, a PE ratio of 15.88 and a beta of 0.93.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Monday, May 3rd. The bank reported $1.34 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $1.23. Banco Bradesco had a return on equity of 15.57% and a net margin of 18.54%. The business had revenue of $5.52 billion for the quarter, compared to analyst estimates of $4.94 billion. Equities analysts forecast that Banco Bradesco S.A. will post 0.49 earnings per share for the current year.

The business also recently declared a — dividend, which will be paid on Monday, August 9th. Investors of record on Tuesday, July 6th will be given a dividend of $0.0038 per share. This represents a yield of 3%. This is a positive change from Banco Bradesco’s previous — dividend of $0.00. The ex-dividend date is Friday, July 2nd. Banco Bradesco’s dividend payout ratio (DPR) is presently 10.81%.

Separately, Zacks Investment Research raised Banco Bradesco from a “sell” rating to a “hold” rating in a report on Monday, May 3rd.

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 The Banking, and The Insurance. The company offers leasing, investment banking, brokerage, and consortium management services, overdrafts, as well as credit cards, real estate products, pension plans, and capitalization bonds.

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

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