Banco Bradesco (NYSE:BBD) Upgraded to Hold by Zacks Investment Research
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 have also issued reports on BBD. Goldman Sachs Group started coverage on shares of Banco Bradesco in a research report on Monday, June 10th. They issued a sell rating and a $9.58 price target on the stock. Morgan Stanley upgraded shares of Banco Bradesco from an equal weight rating to an overweight rating in a research report on Wednesday, August 7th. Finally, ValuEngine lowered shares of Banco Bradesco from a sell rating to a strong sell rating in a research report on Thursday, September 5th. Four research analysts have rated the stock with a sell rating, one has issued a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and an average target price of $10.29.
Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, July 26th. The bank reported $0.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.19 by $0.01. The company had revenue of $8.62 billion for the quarter, compared to analyst estimates of $6.38 billion. Banco Bradesco had a net margin of 16.16% and a return on equity of 19.01%. As a group, equities analysts predict that Banco Bradesco will post 0.79 earnings per share for the current year.
The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.004 per share. The ex-dividend date is Tuesday, September 3rd. This represents a $0.05 annualized dividend and a dividend yield of 0.59%. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.63%.
Several institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Banco Bradesco by 12.9% during the 2nd quarter. Vanguard Group Inc. now owns 42,632,672 shares of the bank’s stock valued at $418,653,000 after acquiring an additional 4,875,984 shares in the last quarter. Fisher Asset Management LLC boosted its position in shares of Banco Bradesco by 18.9% during the 2nd quarter. Fisher Asset Management LLC now owns 41,449,039 shares of the bank’s stock valued at $407,030,000 after acquiring an additional 6,577,776 shares in the last quarter. BlackRock Inc. boosted its position in shares of Banco Bradesco by 11.5% during the 2nd quarter. BlackRock Inc. now owns 33,765,301 shares of the bank’s stock valued at $331,576,000 after acquiring an additional 3,490,926 shares in the last quarter. Invesco Ltd. boosted its position in shares of Banco Bradesco by 17.9% during the 2nd quarter. Invesco Ltd. now owns 32,812,785 shares of the bank’s stock valued at $322,221,000 after acquiring an additional 4,977,713 shares in the last quarter. Finally, Baillie Gifford & Co. boosted its position in shares of Banco Bradesco by 26.9% during the 2nd quarter. Baillie Gifford & Co. now owns 27,044,061 shares of the bank’s stock valued at $265,572,000 after acquiring an additional 5,732,189 shares in the last quarter. Institutional investors and hedge funds own 2.46% of the company’s stock.
About Banco Bradesco
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
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