ValuEngine Upgrades Banco Bradesco (NYSE:BBD) to Sell

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Banco Bradesco (NYSE:BBD) was upgraded by investment analysts at ValuEngine from a “strong sell” rating to a “sell” rating in a research note issued to investors on Friday, September 21st.

A number of other equities research analysts have also recently issued reports on BBD. Zacks Investment Research cut shares of Banco Bradesco from a “hold” rating to a “strong sell” rating in a report on Tuesday, June 19th. Santander upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Friday, July 20th. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. Banco Bradesco has an average rating of “Buy” and an average target price of $8.00.

BBD traded up $0.22 during trading on Friday, hitting $8.60. The company had a trading volume of 12,909,591 shares, compared to its average volume of 11,879,851. The company has a current ratio of 1.12, a quick ratio of 1.13 and a debt-to-equity ratio of 0.69. Banco Bradesco has a one year low of $6.49 and a one year high of $13.18. The stock has a market capitalization of $47.39 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.46 and a beta of 1.79.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Wednesday, July 25th. The bank reported $0.24 EPS for the quarter, topping the consensus estimate of $0.19 by $0.05. The firm had revenue of $7.31 billion for the quarter. Banco Bradesco had a net margin of 12.02% and a return on equity of 17.06%. On average, equities research analysts predict that Banco Bradesco will post 0.76 EPS for the current fiscal year.

Institutional investors have recently modified their holdings of the company. Neuberger Berman Group LLC bought a new stake in shares of Banco Bradesco during the 1st quarter worth approximately $124,000. Flow Traders U.S. LLC bought a new position in Banco Bradesco in the 1st quarter valued at approximately $152,000. HRT Financial LLC bought a new position in Banco Bradesco in the 2nd quarter valued at approximately $132,000. Signaturefd LLC lifted its stake in Banco Bradesco by 50.7% in the 2nd quarter. Signaturefd LLC now owns 20,573 shares of the bank’s stock valued at $141,000 after purchasing an additional 6,925 shares during the last quarter. Finally, Quantitative Systematic Strategies LLC bought a new position in Banco Bradesco in the 2nd quarter valued at approximately $183,000. 3.17% of the stock is owned by institutional investors.

About Banco Bradesco

Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

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