Banco Bradesco SA (NYSE:BBD) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $8.93 and last traded at $8.85, with a volume of 4,600,191 shares traded. The stock had previously closed at $8.77.

A number of equities research analysts recently issued reports on BBD shares. Barclays PLC downgraded 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 $8.00 price target on the stock in a research report on Friday, May 6th. Credit Suisse Group AG upgraded Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. Scotiabank restated a “sector underperform” rating on shares of Banco Bradesco SA in a research report on Thursday, April 28th. Finally, JPMorgan Chase & Co. downgraded Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $6.27.

The company has a market cap of $48.90 billion and a PE ratio of 8.68. The stock’s 50-day moving average price is $7.46 and its 200 day moving average price is $6.28.

Other hedge funds and institutional investors have modified their holdings of the company. 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 period. Brandes Investment Partners LP boosted its position in shares of Banco Bradesco SA by 3.6% in the fourth quarter. Brandes Investment Partners LP now owns 257,490 shares of the company’s stock valued at $1,239,000 after buying an additional 8,870 shares during the period. 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 period. 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 period. Finally, 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 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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