Zacks Investment Research upgraded shares of Banco Bradesco (NYSE:BBD) from a sell rating to a hold rating in a research note released 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. “

A number of other equities analysts also recently issued reports on the company. ValuEngine raised Banco Bradesco from a hold rating to a buy rating in a report on Monday, December 17th. HSBC downgraded Banco Bradesco from a hold rating to a reduce rating in a report on Tuesday, December 11th. Finally, Morgan Stanley raised Banco Bradesco from an underweight rating to an equal weight rating in a report on Friday, November 9th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The company presently has a consensus rating of Buy and an average price target of $11.00.

Shares of BBD opened at $11.26 on Tuesday. The company has a market capitalization of $74.97 billion, a P/E ratio of 12.65, a price-to-earnings-growth ratio of 0.66 and a beta of 1.04. Banco Bradesco has a 52-week low of $6.49 and a 52-week high of $13.18.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, November 1st. The bank reported $0.21 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The firm had revenue of $8.44 billion during the quarter. Banco Bradesco had a return on equity of 17.38% and a net margin of 14.27%. Equities analysts anticipate that Banco Bradesco will post 0.84 EPS for the current fiscal year.

The firm also recently declared a special dividend, which will be paid on Friday, March 8th. Investors of record on Tuesday, February 5th will be issued a $0.005 dividend. This is an increase from Banco Bradesco’s previous special dividend of $0.00. The ex-dividend date of this dividend is Monday, February 4th. Banco Bradesco’s dividend payout ratio is 5.62%.

Several hedge funds have recently bought and sold shares of BBD. BlackRock Inc. boosted its holdings in shares of Banco Bradesco by 23.4% in the second quarter. BlackRock Inc. now owns 39,233,633 shares of the bank’s stock valued at $269,143,000 after acquiring an additional 7,441,386 shares during the period. Capital Growth Management LP boosted its holdings in shares of Banco Bradesco by 66.2% in the third quarter. Capital Growth Management LP now owns 14,915,000 shares of the bank’s stock valued at $105,598,000 after acquiring an additional 5,940,000 shares during the period. Man Group plc boosted its holdings in shares of Banco Bradesco by 345.1% in the third quarter. Man Group plc now owns 7,012,059 shares of the bank’s stock valued at $49,645,000 after acquiring an additional 5,436,559 shares during the period. Baillie Gifford & Co. boosted its holdings in shares of Banco Bradesco by 13.5% in the third quarter. Baillie Gifford & Co. now owns 19,879,283 shares of the bank’s stock valued at $140,745,000 after acquiring an additional 2,369,981 shares during the period. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Banco Bradesco by 18.0% in the third quarter. Dimensional Fund Advisors LP now owns 14,856,853 shares of the bank’s stock valued at $105,234,000 after acquiring an additional 2,266,554 shares during the period. 3.25% of the stock is owned by institutional investors and hedge funds.

Banco Bradesco Company Profile

Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.

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