Zacks Investment Research Downgrades Banco Bradesco (BBD) to Hold

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

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. “

A number of other brokerages also recently commented on BBD. Morgan Stanley upgraded shares of Banco Bradesco from an underweight rating to an equal weight rating in a research note on Friday, November 9th. ValuEngine upgraded shares of Banco Bradesco from a sell rating to a hold rating in a research note on Monday, October 8th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $11.00.

Shares of BBD stock opened at $9.62 on Thursday. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.13 and a current ratio of 1.11. The stock has a market capitalization of $64.39 billion, a price-to-earnings ratio of 10.81, a P/E/G ratio of 0.62 and a beta of 1.14. Banco Bradesco has a one year low of $6.49 and a one year high of $13.18.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, November 1st. The bank reported $0.21 EPS for the quarter, topping the Zacks’ consensus estimate of $0.19 by $0.02. The business had revenue of $8.44 billion for the quarter. Banco Bradesco had a net margin of 14.27% and a return on equity of 17.38%. On average, equities analysts forecast that Banco Bradesco will post 0.77 EPS for the current fiscal year.

The business also recently announced a monthly dividend, which will be paid on Wednesday, January 9th. Shareholders 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 dividend on an annualized basis and a yield of 0.50%. Banco Bradesco’s dividend payout ratio is currently 5.62%.

Hedge funds have recently modified their holdings of the business. Nordea Investment Management AB purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth approximately $10,885,000. TIAA CREF Investment Management LLC purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth approximately $7,964,000. HRT Financial LLC lifted its position in shares of Banco Bradesco by 34.0% in the 3rd quarter. HRT Financial LLC now owns 25,959 shares of the bank’s stock worth $183,000 after purchasing an additional 6,586 shares during the period. Henry James International Management Inc. purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth approximately $103,000. Finally, Man Group plc lifted its position 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 worth $49,645,000 after purchasing an additional 5,436,559 shares during the period. Institutional investors and hedge funds own 3.31% of the company’s stock.

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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