Banco Bradesco (NYSE:BBD) Stock Rating Raised to “Overweight” at JPMorgan Chase & Co.

Banco Bradesco (NYSE:BBD) was upgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued to clients and investors on Tuesday, Benzinga reports.

Other equities analysts also recently issued research reports about the company. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Three research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat.com, Banco Bradesco presently has an average rating of “Moderate Buy”.

Banco Bradesco Stock Up 4.5%

Shares of Banco Bradesco stock traded up $0.20 during trading on Tuesday, reaching $4.53. The stock had a trading volume of 74,618,941 shares, compared to its average volume of 35,388,980. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The company has a market capitalization of $47.95 billion, a price-to-earnings ratio of 10.75, a P/E/G ratio of 0.56 and a beta of 0.46. The stock has a fifty day moving average price of $3.41 and a two-hundred day moving average price of $3.55. Banco Bradesco has a 52 week low of $2.98 and a 52 week high of $4.58.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The business had revenue of $6.77 billion during the quarter. Sell-side analysts predict that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Arrowstreet Capital Limited Partnership boosted its position in Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock valued at $273,604,000 after purchasing an additional 16,908,425 shares during the last quarter. Franklin Resources Inc. increased its position in shares of Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock worth $159,664,000 after purchasing an additional 46,080,856 shares during the last quarter. Bank of America Corp DE raised its stake in shares of Banco Bradesco by 355.9% during the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after purchasing an additional 21,920,074 shares in the last quarter. Amundi raised its stake in shares of Banco Bradesco by 20.0% during the 1st quarter. Amundi now owns 24,583,083 shares of the bank’s stock worth $89,728,000 after purchasing an additional 4,099,099 shares in the last quarter. Finally, Sei Investments Co. boosted its holdings in shares of Banco Bradesco by 3.4% in the 1st quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after buying an additional 641,744 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.