Shares of Banco Bradesco SA (NYSE:BBD) have received an average recommendation of “Buy” from the seven brokerages that are currently covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company.
A number of equities analysts have weighed in on BBD shares. ValuEngine lowered Banco Bradesco from a “hold” rating to a “sell” rating in a research note on Wednesday, August 8th. Zacks Investment Research upgraded Banco Bradesco from a “strong sell” rating to a “hold” rating in a research note on Wednesday, August 15th. Finally, Morgan Stanley upgraded Banco Bradesco from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 9th.
Several institutional investors have recently made changes to their positions in BBD. Standard Life Aberdeen plc increased its stake in shares of Banco Bradesco by 20.1% in the 2nd quarter. Standard Life Aberdeen plc now owns 165,169,076 shares of the bank’s stock valued at $1,133,886,000 after purchasing an additional 27,683,861 shares in the last quarter. BlackRock Inc. increased its stake in shares of Banco Bradesco by 23.4% in the 2nd quarter. BlackRock Inc. now owns 39,233,633 shares of the bank’s stock valued at $269,143,000 after purchasing an additional 7,441,386 shares in the last quarter. Capital Growth Management LP increased its stake in shares of Banco Bradesco by 66.2% in the 3rd quarter. Capital Growth Management LP now owns 14,915,000 shares of the bank’s stock valued at $105,598,000 after purchasing an additional 5,940,000 shares in the last quarter. Man Group plc increased its stake in shares of Banco Bradesco by 345.1% in the 3rd quarter. Man Group plc now owns 7,012,059 shares of the bank’s stock valued at $49,645,000 after purchasing an additional 5,436,559 shares in the last quarter. Finally, Sei Investments Co. increased its stake in shares of Banco Bradesco by 190.8% in the 2nd quarter. Sei Investments Co. now owns 6,417,040 shares of the bank’s stock valued at $44,021,000 after purchasing an additional 4,210,184 shares in the last quarter. Hedge funds and other institutional investors own 3.31% of the company’s stock.
Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, November 1st. The bank reported $0.21 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $8.44 billion during the quarter. Banco Bradesco had a return on equity of 17.38% and a net margin of 14.27%. Analysts forecast that Banco Bradesco will post 0.76 EPS for the current year.
The firm also recently declared a monthly dividend, which will be paid on Wednesday, January 9th. Investors of record on Wednesday, December 5th will be paid a $0.004 dividend. The ex-dividend date of this dividend is Tuesday, December 4th. This represents a $0.05 annualized dividend and a dividend yield of 0.50%. Banco Bradesco’s dividend payout ratio is presently 5.62%.
Banco Bradesco Company Profile
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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