Banco Bradesco SA (NYSE:BBD) Upgraded to Hold by Zacks Investment Research

Zacks Investment Research upgraded shares of Banco Bradesco SA (NYSE:BBD) from a sell rating to a hold rating in a report published on Wednesday, November 8th.

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. “

BBD has been the subject of several other research reports. Scotiabank downgraded shares of Banco Bradesco SA from an outperform rating to a sector perform rating in a report on Tuesday, September 5th. Goldman Sachs Group, Inc. (The) raised shares of Banco Bradesco SA from a neutral rating to a buy rating and set a $12.40 price objective for the company in a report on Monday, September 11th. BidaskClub downgraded shares of Banco Bradesco SA from a strong-buy rating to a buy rating in a report on Tuesday, July 25th. Finally, ValuEngine downgraded shares of Banco Bradesco SA from a strong-buy rating to a buy rating in a report on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, five have given a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Buy and a consensus target price of $12.40.

Shares of Banco Bradesco SA (NYSE BBD) opened at $10.42 on Wednesday. The firm has a market cap of $60,690.00, a PE ratio of 10.81, a P/E/G ratio of 1.03 and a beta of 1.75. Banco Bradesco SA has a 1-year low of $7.15 and a 1-year high of $11.86. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.10 and a quick ratio of 1.10.

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The firm also recently declared a monthly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 5th will be issued a $0.0058 dividend. This represents a $0.07 dividend on an annualized basis and a yield of 0.67%. The ex-dividend date of this dividend is Monday, December 4th. Banco Bradesco SA’s payout ratio is 6.59%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Aberdeen Asset Management PLC UK lifted its holdings in Banco Bradesco SA by 20.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 180,676,024 shares of the bank’s stock valued at $1,535,746,000 after acquiring an additional 30,239,397 shares during the last quarter. BlackRock Inc. lifted its holdings in Banco Bradesco SA by 3.1% in the 2nd quarter. BlackRock Inc. now owns 40,489,056 shares of the bank’s stock valued at $344,157,000 after acquiring an additional 1,234,324 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Banco Bradesco SA by 17.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,651,585 shares of the bank’s stock valued at $328,538,000 after acquiring an additional 5,844,907 shares during the last quarter. Franklin Resources Inc. lifted its holdings in Banco Bradesco SA by 35.8% in the 2nd quarter. Franklin Resources Inc. now owns 25,959,687 shares of the bank’s stock valued at $220,639,000 after acquiring an additional 6,842,060 shares during the last quarter. Finally, Harding Loevner LP lifted its holdings in Banco Bradesco SA by 1.2% in the 3rd quarter. Harding Loevner LP now owns 23,884,704 shares of the bank’s stock valued at $264,404,000 after acquiring an additional 294,100 shares during the last quarter. 2.90% of the stock is owned by institutional investors.

Banco Bradesco SA 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.

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Analyst Recommendations for Banco Bradesco SA (NYSE:BBD)

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