Banco Bradesco (NYSE:BBD) Upgraded at JPMorgan Chase & Co.

JPMorgan Chase & Co. upgraded shares of Banco Bradesco (NYSE:BBD) from a neutral rating to an overweight rating in a research report released on Tuesday morning,Benzinga reports.

BBD has been the subject of several other research reports. Weiss Ratings cut Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Bradesco Corretora upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, Banco Bradesco presently has a consensus rating of “Moderate Buy” and an average price target of $3.90.

Banco Bradesco Stock Down 2.2%

BBD opened at $4.25 on Tuesday. The stock has a market cap of $44.98 billion, a price-to-earnings ratio of 10.11, a price-to-earnings-growth ratio of 0.67 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The firm’s fifty day moving average is $3.45 and its 200 day moving average is $3.56. Banco Bradesco has a fifty-two week low of $2.98 and a fifty-two week high of $4.58.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The business had revenue of $6.77 billion for the quarter. On average, sell-side analysts forecast that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The company also recently declared a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be paid 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%.

Institutional Trading of Banco Bradesco

A number of large investors have recently added to or reduced their stakes in the company. Tidal Investments LLC grew its position in Banco Bradesco by 1.9% in the second quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock worth $558,000 after acquiring an additional 2,990 shares in the last quarter. Compound Planning Inc. raised its position in Banco Bradesco by 2.1% during the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock valued at $579,000 after purchasing an additional 3,247 shares during the period. Cetera Investment Advisers raised its position in Banco Bradesco by 16.7% during the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock valued at $90,000 after purchasing an additional 3,519 shares during the period. Plan A Wealth LLC lifted its stake 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 valued at $82,000 after purchasing an additional 4,224 shares during the last quarter. Finally, ABN Amro Investment Solutions lifted its stake in shares of Banco Bradesco by 8.5% in the 1st quarter. ABN Amro Investment Solutions now owns 60,200 shares of the bank’s stock valued at $220,000 after purchasing an additional 4,700 shares during the last quarter.

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.