Banco Bradesco SA (BBD) Reaches New 12-Month High at $9.25
Banco Bradesco SA (NYSE:BBD)’s share price reached a new 52-week high during mid-day trading on Thursday . The stock traded as high as $9.25 and last traded at $9.25, with a volume of 8,861,893 shares traded. The stock had previously closed at $8.96.
Several equities analysts have recently issued reports on the company. Credit Suisse Group AG raised Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research report on Thursday, July 14th. JPMorgan Chase & Co. lowered Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research report on Wednesday, July 6th. Goldman Sachs Group Inc. lifted their price target on Banco Bradesco SA from $1.26 to $1.82 and gave the stock a “neutral” rating in a research report on Monday, May 2nd. Barclays PLC lowered Banco Bradesco SA from an “overweight” rating to an “equal weight” rating in a research report on Wednesday, April 27th. Finally, Zacks Investment Research raised Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $8.00 price target for the company in a research report on Friday, May 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $4.91.
The company has a 50 day moving average of $8.41 and a 200-day moving average of $6.86. The firm has a market capitalization of $50.56 billion and a P/E ratio of 9.08.
Banco Bradesco SA (NYSE:BBD) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.96 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.76. Analysts predict that Banco Bradesco SA will post $0.87 earnings per share for the current fiscal year.
Other institutional investors have made changes to their positions in the company. BNP Paribas Arbitrage SA increased 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. Mizuho Trust & Banking Co. Ltd. increased its position in 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 worth $5,587,000 after buying an additional 248,873 shares during the last quarter. Finally, Bank of Montreal Can increased its position in Banco Bradesco SA by 8.2% in the fourth quarter. Bank of Montreal Can now owns 338,948 shares of the company’s stock worth $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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