Zacks Investment Research downgraded shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a research note issued to investors on Monday morning, reports.

According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgaged loans, 24 hour banking, health and life insurance, leasing, pension fund management and services for stock market investors. “

Other equities research analysts also recently issued reports about the stock. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Goldman Sachs Group cut shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of Hold and a consensus price target of $10.29.

Shares of NYSE BBD traded down $0.15 during midday trading on Monday, hitting $10.24. The company had a trading volume of 764,393 shares, compared to its average volume of 14,641,228. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.10 and a quick ratio of 1.10. Banco Bradesco has a twelve month low of $5.41 and a twelve month high of $10.55. The firm has a 50-day simple moving average of $9.49. The firm has a market cap of $100.15 billion, a price-to-earnings ratio of 14.32, a price-to-earnings-growth ratio of 0.59 and a beta of 0.92.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, April 25th. The bank reported $0.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.18 by $0.03. The company had revenue of $9.26 billion during the quarter, compared to analysts’ expectations of $6.51 billion. Banco Bradesco had a net margin of 15.96% and a return on equity of 18.75%. Research analysts forecast that Banco Bradesco will post 0.78 earnings per share for the current fiscal year.

The firm also recently announced a dividend, which will be paid on Monday, July 22nd. Shareholders of record on Tuesday, July 2nd will be paid a dividend of $0.037 per share. This is a positive change from Banco Bradesco’s previous dividend of $0.01. The ex-dividend date of this dividend is Monday, July 1st. Banco Bradesco’s payout ratio is presently 5.63%.

Institutional investors have recently added to or reduced their stakes in the company. Bank of New York Mellon Corp raised its position in Banco Bradesco by 6.6% in the fourth quarter. Bank of New York Mellon Corp now owns 66,279 shares of the bank’s stock valued at $655,000 after purchasing an additional 4,081 shares during the last quarter. Advisor Group Inc. grew its stake in Banco Bradesco by 125.8% during the fourth quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock worth $83,000 after purchasing an additional 4,652 shares during the period. GSA Capital Partners LLP acquired a new stake in Banco Bradesco in the fourth quarter valued at approximately $187,000. Northern Trust Corp grew its stake in Banco Bradesco by 3.0% in the fourth quarter. Northern Trust Corp now owns 4,116,742 shares of the bank’s stock valued at $40,715,000 after acquiring an additional 120,941 shares during the period. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $1,860,000. Institutional investors and hedge funds own 2.06% of the company’s stock.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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