Shares of Banco Bradesco SA (NYSE:BBD) rose 5.2% during mid-day trading on Thursday . The stock traded as high as $8.70 and last traded at $8.68, with a volume of 9,780,949 shares traded. The stock had previously closed at $8.25.

BBD has been the subject of several recent research reports. Zacks Investment Research upgraded Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $8.00 price objective for the company in a report on Friday, May 6th. Barclays PLC lowered Banco Bradesco SA from an “overweight” rating to an “equal weight” rating in a report on Wednesday, April 27th. Deutsche Bank AG lowered Banco Bradesco SA from a “buy” rating to a “hold” rating in a report on Tuesday, March 22nd. Goldman Sachs Group Inc. increased their price objective on Banco Bradesco SA from $1.26 to $1.82 and gave the stock a “neutral” rating in a report on Monday, May 2nd. Finally, JPMorgan Chase & Co. lowered Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.27.

The company has a 50-day moving average of $7.25 and a 200-day moving average of $6.16. The firm has a market cap of $47.74 billion and a PE ratio of 8.73.

Other hedge funds have added to or reduced their stakes in the company. Brandes Investment Partners LP raised its stake in Banco Bradesco SA by 3.6% in the fourth quarter. Brandes Investment Partners LP now owns 257,490 shares of the company’s stock worth $1,239,000 after buying an additional 8,870 shares in the last quarter. Bank of Montreal Can raised 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 period. Mizuho Trust & Banking Co. Ltd. raised 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 period. BNP Paribas Arbitrage SA raised 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 period. Finally, Morgan Stanley raised 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 period.

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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