Banco Bradesco (NYSE:BBD) Downgraded to “Sell” Rating by The Goldman Sachs Group

Banco Bradesco (NYSE:BBD) was downgraded by investment analysts at The Goldman Sachs Group from a “buy” rating to a “sell” rating in a note issued to investors on Wednesday,Briefing.com Automated Import reports. They currently have a $2.00 target price on the bank’s stock, down from their previous target price of $2.40. The Goldman Sachs Group’s price objective indicates a potential downside of 8.05% from the company’s previous close.

Several other research analysts have also recently issued reports on BBD. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a report on Monday, January 13th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Trading Up 3.1 %

NYSE BBD opened at $2.18 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $2.98. The stock has a market capitalization of $23.15 billion, a PE ratio of 8.37, a price-to-earnings-growth ratio of 0.28 and a beta of 0.94. The firm has a 50 day moving average of $1.99 and a two-hundred day moving average of $2.38.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. As a group, research analysts expect that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of BBD. Franklin Resources Inc. raised its position in Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after buying an additional 1,139,470 shares during the last quarter. State Street Corp raised its position in Banco Bradesco by 71.0% during the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock worth $42,715,000 after buying an additional 6,551,698 shares during the last quarter. DAVENPORT & Co LLC purchased a new position in Banco Bradesco during the 4th quarter worth $66,000. JPMorgan Chase & Co. raised its position in Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank’s stock worth $731,000 after buying an additional 166,008 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in Banco Bradesco by 4.4% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 3,032,246 shares of the bank’s stock worth $5,792,000 after buying an additional 127,225 shares during the last quarter.

Banco Bradesco Company 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.