Banco Bradesco (NYSE:BBD) Upgraded at Zacks Investment Research

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Zacks Investment Research upgraded shares of Banco Bradesco (NYSE:BBD) from a sell rating to a hold rating in a research report released on Tuesday morning, Zacks.com reports.

According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgaged loans, 24 hour banking, health and life insurance, leasing, pension fund management and services for stock market investors. “

Several other research firms also recently weighed in on BBD. Morgan Stanley upgraded shares of Banco Bradesco from an equal weight rating to an overweight rating in a research report on Wednesday, August 7th. ValuEngine downgraded shares of Banco Bradesco from a sell rating to a strong sell rating in a research report on Thursday, September 5th. Four analysts have rated the stock with a sell rating, one has assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has an average rating of Hold and an average price target of $10.29.

Shares of Banco Bradesco stock opened at $8.38 on Tuesday. The firm has a 50-day simple moving average of $8.12 and a two-hundred day simple moving average of $8.90. The company has a market cap of $66.51 billion, a P/E ratio of 11.80, a price-to-earnings-growth ratio of 0.61 and a beta of 0.83. Banco Bradesco has a fifty-two week low of $7.22 and a fifty-two week high of $10.55. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.15.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Friday, July 26th. The bank reported $0.20 earnings per share for the quarter, topping analysts’ consensus estimates of $0.19 by $0.01. The business had revenue of $8.62 billion during the quarter, compared to the consensus estimate of $6.38 billion. Banco Bradesco had a net margin of 16.16% and a return on equity of 19.01%. Equities research analysts forecast that Banco Bradesco will post 0.78 EPS for the current year.

The business also recently declared a — dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 3rd will be given a dividend of $0.0046 per share. The ex-dividend date of this dividend is Wednesday, October 2nd. This represents a dividend yield of 2.5%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.04%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. raised its position in shares of Banco Bradesco by 9.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,080 shares of the bank’s stock worth $128,000 after purchasing an additional 1,180 shares during the last quarter. Shine Investment Advisory Services Inc. raised its position in shares of Banco Bradesco by 20.0% during the 2nd quarter. Shine Investment Advisory Services Inc. now owns 7,244 shares of the bank’s stock worth $71,000 after purchasing an additional 1,207 shares during the last quarter. Compagnie Lombard Odier SCmA raised its position in shares of Banco Bradesco by 20.0% during the 2nd quarter. Compagnie Lombard Odier SCmA now owns 7,994 shares of the bank’s stock worth $79,000 after purchasing an additional 1,331 shares during the last quarter. Lindbrook Capital LLC raised its position in shares of Banco Bradesco by 28.1% during the 2nd quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock worth $62,000 after purchasing an additional 1,393 shares during the last quarter. Finally, Gould Asset Management LLC CA raised its position in shares of Banco Bradesco by 7.7% during the 2nd quarter. Gould Asset Management LLC CA now owns 24,363 shares of the bank’s stock worth $239,000 after purchasing an additional 1,737 shares during the last quarter. Hedge funds and other institutional investors own 2.95% of the company’s stock.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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