Banco Bradesco (NYSE:BBD) Stock Rating Raised to Hold at Wall Street Zen

Wall Street Zen upgraded shares of Banco Bradesco (NYSE:BBD) to a hold rating in a research note published on Saturday,Wall Street Zen reports.

Other research analysts have also recently issued research reports about the company. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 6th. JPMorgan Chase & Co. raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 6th. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price for the company. in a research report on Thursday, October 8th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $4.20 price target on shares of Banco Bradesco in a research report on Friday, October 9th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Banco Bradesco Price Performance

Shares of BBD stock opened at $3.97 on Friday. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $42.04 billion, a P/E ratio of 9.45, a P/E/G ratio of 0.61 and a beta of 0.46. The company’s 50-day simple moving average is $3.53 and its two-hundred day simple moving average is $3.59. Banco Bradesco has a one year low of $2.98 and a one year high of $4.58.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The business had revenue of $6.77 billion for the quarter. As a group, equities analysts anticipate that Banco Bradesco will post 0.50 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be given a $0.0038 dividend. This represents a $0.05 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Thursday, November 5th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0037. Banco Bradesco’s dividend payout ratio is currently 47.62%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently modified their holdings of BBD. Global Strategic Management Inc. purchased a new stake in Banco Bradesco during the third quarter worth $221,000. Euro Pacific Asset Management LLC raised its position in shares of Banco Bradesco by 3.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,136,944 shares of the bank’s stock worth $3,742,000 after acquiring an additional 35,164 shares in the last quarter. Plan A Wealth LLC raised its position in shares of Banco Bradesco by 22.1% in the 3rd quarter. Plan A Wealth LLC now owns 23,327 shares of the bank’s stock worth $82,000 after acquiring an additional 4,224 shares in the last quarter. QRG Capital Management Inc. raised its position in shares of Banco Bradesco by 16.3% in the 2nd quarter. QRG Capital Management Inc. now owns 201,615 shares of the bank’s stock worth $700,000 after acquiring an additional 28,320 shares in the last quarter. Finally, ABS Direct Equity Fund LLC bought a new position in shares of Banco Bradesco in the 2nd quarter worth $1,270,000.

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.