Banco Bradesco SA (BBD) Upgraded by Goldman Sachs Group, Inc. (The) to Buy

Goldman Sachs Group, Inc. (The) upgraded shares of Banco Bradesco SA (NYSE:BBD) from a neutral rating to a buy rating in a report published on Monday morning, Marketbeat.com reports. Goldman Sachs Group, Inc. (The) currently has $12.40 target price on the bank’s stock.

A number of other equities research analysts have also recently weighed in on the company. BidaskClub cut Banco Bradesco SA from a buy rating to a hold rating in a research note on Friday, June 23rd. ValuEngine upgraded Banco Bradesco SA from a buy rating to a strong-buy rating in a research note on Friday, June 2nd. Finally, Scotiabank upgraded Banco Bradesco SA from a sector perform rating to an outperform rating in a research note on Wednesday, June 28th. Two equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned 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 SA (NYSE BBD) opened at 11.23 on Monday. The company has a market capitalization of $68.34 billion, a P/E ratio of 12.29 and a beta of 1.75. Banco Bradesco SA has a one year low of $7.15 and a one year high of $11.47. The stock’s 50 day moving average price is $10.41 and its 200 day moving average price is $9.39.

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The business also recently disclosed a special dividend, which will be paid on Monday, November 13th. Investors of record on Wednesday, October 4th will be paid a dividend of $0.0061 per share. This is a boost from Banco Bradesco SA’s previous special dividend of $0.01. This represents a dividend yield of 0.64%. The ex-dividend date is Tuesday, October 3rd. Banco Bradesco SA’s dividend payout ratio is 7.86%.

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Migdal Insurance & Financial Holdings Ltd. lifted its stake in shares of Banco Bradesco SA by 7.1% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 722,020 shares of the bank’s stock worth $6,138,000 after purchasing an additional 47,927 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of Banco Bradesco SA by 14.2% during the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 12,943,002 shares of the bank’s stock worth $110,016,000 after purchasing an additional 1,613,353 shares during the last quarter. Earnest Partners LLC lifted its stake in shares of Banco Bradesco SA by 6.2% during the 2nd quarter. Earnest Partners LLC now owns 15,556,009 shares of the bank’s stock worth $132,226,000 after purchasing an additional 914,452 shares during the last quarter. BlueCrest Capital Management Ltd lifted its stake in shares of Banco Bradesco SA by 197.6% during the 2nd quarter. BlueCrest Capital Management Ltd now owns 866,513 shares of the bank’s stock worth $7,365,000 after purchasing an additional 575,357 shares during the last quarter. Finally, State Street Corp raised its stake in Banco Bradesco SA by 8.7% in the second quarter. State Street Corp now owns 9,527,392 shares of the bank’s stock valued at $80,982,000 after buying an additional 761,609 shares during the last quarter. Hedge funds and other institutional investors own 2.65% of the company’s stock.

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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