Banco Bradesco SA (NYSE:BBD) shot up 5.5% on Friday . The stock traded as high as $8.02 and last traded at $8.02, with a volume of 8,430,638 shares changing hands. The stock had previously closed at $7.60.

Several brokerages have recently weighed in on BBD. Scotiabank reiterated a “sector underperform” rating on shares of Banco Bradesco SA in a research report on Thursday, April 28th. Barclays PLC cut Banco Bradesco SA from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 27th. Zacks Investment Research upgraded Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $8.50 price target on the stock in a research report on Thursday, March 17th. JPMorgan Chase & Co. cut Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday. Finally, Goldman Sachs Group Inc. upped their price target on Banco Bradesco SA from $1.26 to $1.82 and gave the company a “neutral” rating in a research report on Monday, May 2nd. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company’s stock. Banco Bradesco SA presently has an average rating of “Hold” and an average price target of $6.27.

The firm has a market capitalization of $44.26 billion and a P/E ratio of 7.79. The company has a 50-day moving average of $7.10 and a 200 day moving average of $6.05.

A number of hedge funds and institutional investors have recently made changes to their positions in BBD. Morgan Stanley boosted its position in shares of Banco Bradesco SA by 95.7% in the fourth quarter. Morgan Stanley now owns 12,721,880 shares of the company’s stock valued at $61,192,000 after buying an additional 6,221,082 shares during the last quarter. Trilogy Global Advisors LP boosted its position in shares of Banco Bradesco SA by 20.0% in the fourth quarter. Trilogy Global Advisors LP now owns 17,152,005 shares of the company’s stock valued at $82,495,000 after buying an additional 2,862,253 shares during the last quarter. BNP Paribas Arbitrage SA boosted its position in shares of Banco Bradesco SA by 19.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 6,789,868 shares of the company’s stock valued at $32,659,000 after buying an additional 1,084,028 shares during the last quarter. Mizuho Trust & Banking Co. Ltd. boosted its position in shares of Banco Bradesco SA by 27.3% in the fourth quarter. Mizuho Trust & Banking Co. Ltd. now owns 1,159,149 shares of the company’s stock valued at $5,587,000 after buying an additional 248,873 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in shares of Banco Bradesco SA by 8.2% in the fourth quarter. Bank of Montreal Can now owns 338,948 shares of the company’s stock valued at $1,630,000 after buying an additional 25,783 shares during the last quarter.

Banco Bradesco SA is a multiple service bank. The Company 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. The Company operates and manages its business through two operating segments: the banking segment, and the insurance, pension plans and capitalization bond segment.

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