Banco Bradesco SA (NYSE:BBD) Stock Now Rated “Moderate Buy” by Wall Street Brokerages

Banco Bradesco SA (NYSE:BBD) has been assigned an average rating of “Moderate Buy” from the five ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $3.90.

BBD has been the topic of several research analyst reports. Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. HSBC lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price target for the company. in a research note on Thursday. JPMorgan Chase & Co. upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Finally, Bradesco Corretora upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday.

Institutional Trading of Banco Bradesco

Large investors have recently modified their holdings of the company. QRG Capital Management Inc. increased its position in Banco Bradesco by 16.3% during the second quarter. QRG Capital Management Inc. now owns 201,615 shares of the bank’s stock valued at $700,000 after acquiring an additional 28,320 shares during the last quarter. ABS Direct Equity Fund LLC bought a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $1,270,000. Tidal Investments LLC grew its stake in shares of Banco Bradesco by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock valued at $558,000 after purchasing an additional 2,990 shares during the period. Integrated Wealth Concepts LLC grew its stake in shares of Banco Bradesco by 11.6% during the 2nd quarter. Integrated Wealth Concepts LLC now owns 163,460 shares of the bank’s stock valued at $567,000 after purchasing an additional 16,998 shares during the period. Finally, Carrhae Capital LLP purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $15,560,000.

Banco Bradesco Stock Down 3.7%

Banco Bradesco stock opened at $4.34 on Thursday. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.58. The stock has a fifty day simple moving average of $3.44 and a two-hundred day simple moving average of $3.56. 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 firm has a market cap of $46.04 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.69 and a beta of 0.46.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results 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 firm had revenue of $6.77 billion for the quarter. Equities analysts predict that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Banco Bradesco Dividend Announcement

The company also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Thursday, October 15th will be issued a dividend of $0.0728 per share. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is presently 7.14%.

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.