Banco Bradesco (NYSE:BBD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday, January 9th.
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. “
A number of other equities research analysts have also weighed in on the stock. ValuEngine lowered shares of Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and set a $12.40 target price for the company in a research note on Monday, September 11th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average price target of $12.20.
Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Tuesday, October 31st. The bank reported $0.25 earnings per share for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Banco Bradesco had a net margin of 9.17% and a return on equity of 17.71%. equities research analysts anticipate that Banco Bradesco will post 0.81 EPS for the current year.
Several hedge funds have recently modified their holdings of BBD. Cutler Investment Counsel LLC bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at $131,000. Empirical Finance LLC bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at $144,000. Fox Run Management L.L.C. bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at $183,000. Stifel Financial Corp boosted its holdings in Banco Bradesco by 102.6% in the 2nd quarter. Stifel Financial Corp now owns 21,830 shares of the bank’s stock worth $186,000 after buying an additional 11,057 shares during the period. Finally, QCM Cayman Ltd. bought a new position in Banco Bradesco in the 2nd quarter worth $228,000. 2.70% of the stock is owned by hedge funds and other institutional investors.
TRADEMARK VIOLATION WARNING: This story was first posted by BBNS and is the sole property of of BBNS. If you are reading this story on another site, it was stolen and reposted in violation of United States and international trademark & copyright law. The original version of this story can be viewed at https://baseballnewssource.com/markets/banco-bradesco-bbd-downgraded-to-hold-at-zacks-investment-research-2/1824009.html.
Banco Bradesco Company Profile
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.