Banco Bradesco (NYSE:BBD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

Several other analysts also recently commented on the company. Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and set a $12.40 price objective on the stock in a research note on Monday, September 11th. ValuEngine downgraded Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. Banco Bradesco currently has a consensus rating of “Buy” and a consensus target price of $12.20.

Banco Bradesco (NYSE:BBD) traded down $0.08 during mid-day trading on Tuesday, hitting $10.89. The stock had a trading volume of 7,519,400 shares, compared to its average volume of 6,896,540. The firm has a market cap of $63,740.00, a P/E ratio of 11.97, a P/E/G ratio of 0.97 and a beta of 1.72. Banco Bradesco has a one year low of $7.83 and a one year high of $11.86.

Hedge funds have recently added to or reduced their stakes in the business. State Street Corp increased its holdings in Banco Bradesco by 8.7% during the 2nd quarter. State Street Corp now owns 9,527,392 shares of the bank’s stock worth $80,982,000 after purchasing an additional 761,609 shares in the last quarter. Ameriprise Financial Inc. increased its holdings in Banco Bradesco by 17.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock worth $643,000 after purchasing an additional 11,473 shares in the last quarter. Quantbot Technologies LP increased its holdings in Banco Bradesco by 631.0% during the 3rd quarter. Quantbot Technologies LP now owns 249,523 shares of the bank’s stock worth $2,762,000 after purchasing an additional 215,388 shares in the last quarter. BT Investment Management Ltd bought a new position in Banco Bradesco during the 2nd quarter worth about $22,396,000. Finally, TD Asset Management Inc. increased its holdings in Banco Bradesco by 24.1% during the 3rd quarter. TD Asset Management Inc. now owns 68,640 shares of the bank’s stock worth $760,000 after purchasing an additional 13,347 shares in the last quarter. Hedge funds and other institutional investors own 2.70% of the company’s stock.

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About Banco Bradesco

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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