Banco Bradesco (NYSE:BBD) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of Banco Bradesco (NYSE:BBD) to a hold rating in a research note released on Saturday morning,Wall Street Zen reports.

Several other brokerages have also issued reports on BBD. The Goldman Sachs Group reissued a “neutral” rating and set a $4.20 target price on shares of Banco Bradesco in a research note on Friday, October 9th. JPMorgan Chase & Co. raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 6th. Bradesco Corretora raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 6th. HSBC lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a report on Thursday, October 8th. Finally, Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $4.05.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $3.94 on Friday. The company has a market cap of $41.81 billion, a price-to-earnings ratio of 8.80, a price-to-earnings-growth ratio of 0.61 and a beta of 0.46. Banco Bradesco has a 52 week low of $2.98 and a 52 week high of $4.58. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a 50 day moving average of $3.55 and a 200-day moving average of $3.59.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The company had revenue of $6.77 billion during the quarter. On average, equities analysts forecast that Banco Bradesco will post 0.50 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.0038 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0037. This represents a $0.05 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is presently 47.62%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors have recently modified their holdings of the company. Bank of America Corp DE raised its holdings in Banco Bradesco by 355.9% during the first quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after buying an additional 21,920,074 shares during the last quarter. Amundi lifted its stake in shares of Banco Bradesco by 20.0% in the first quarter. Amundi now owns 24,583,083 shares of the bank’s stock valued at $89,728,000 after buying an additional 4,099,099 shares in the last quarter. Sei Investments Co. lifted its stake in shares of Banco Bradesco by 3.4% in the first quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after buying an additional 641,744 shares in the last quarter. Renaissance Technologies LLC lifted its stake in shares of Banco Bradesco by 103.9% in the first quarter. Renaissance Technologies LLC now owns 12,315,995 shares of the bank’s stock valued at $44,953,000 after buying an additional 6,276,800 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda lifted its stake in shares of Banco Bradesco by 221.5% in the first quarter. SPX Gestao de Recursos Ltda now owns 11,051,974 shares of the bank’s stock valued at $40,340,000 after buying an additional 7,614,725 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.