Banco Bradesco SA (BBD) Trading Down 1.2%
Banco Bradesco SA (NYSE:BBD)’s share price fell 1.2% on Tuesday . The stock traded as low as $8.75 and last traded at $8.77, with a volume of 7,983,247 shares traded. The stock had previously closed at $8.88.
Several research firms have recently weighed in on BBD. Credit Suisse Group AG raised shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Goldman Sachs Group Inc. raised their price target on shares of Banco Bradesco SA from $1.26 to $1.82 and gave the stock a “neutral” rating in a research note on Monday, May 2nd. Barclays PLC downgraded shares of Banco Bradesco SA from an “overweight” rating to an “equal weight” rating in a research note on Wednesday, April 27th. Finally, Zacks Investment Research raised shares of Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $8.00 price target on the stock in a research note on Friday, May 6th. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $4.91.
The firm’s 50 day moving average price is $8.71 and its 200 day moving average price is $7.16. The company has a market capitalization of $47.80 billion and a price-to-earnings ratio of 8.77.
Banco Bradesco SA (NYSE:BBD) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.21 by $0.76. On average, equities analysts anticipate that Banco Bradesco SA will post $0.86 EPS for the current year.
The business also recently declared a monthly dividend, which will be paid on Tuesday, October 11th. Stockholders of record on Wednesday, September 7th will be paid a dividend of $0.005 per share. The ex-dividend date is Friday, September 2nd. This is a positive change from Banco Bradesco SA’s previous monthly dividend of $0.00. This represents a $0.06 dividend on an annualized basis and a dividend yield of 0.69%.
A hedge fund recently raised its stake in Banco Bradesco SA stock. Bank of Montreal Can increased its position in Banco Bradesco SA (NYSE:BBD) by 8.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 338,948 shares of the company’s stock after buying an additional 25,783 shares during the period. Bank of Montreal Can’s holdings in Banco Bradesco SA were worth $1,630,000 at the end of the most recent 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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