Banco Bradesco SA (NYSE:BBD)‘s stock had its “neutral” rating restated by stock analysts at Goldman Sachs Group Inc. in a research report issued on Wednesday.
A number of other research analysts have also recently commented on BBD. JPMorgan Chase & Co. cut Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Credit Suisse Group AG upgraded Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the company. Banco Bradesco SA has a consensus rating of “Hold” and an average price target of $4.91.
Shares of Banco Bradesco SA (NYSE:BBD) opened at 9.15 on Wednesday. The company has a market cap of $50.62 billion, a PE ratio of 9.51 and a beta of 1.99. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $9.46. The firm’s 50-day moving average price is $8.93 and its 200 day moving average price is $7.72.
Banco Bradesco SA (NYSE:BBD) last issued its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a return on equity of 18.51% and a net margin of 11.75%. Equities research analysts anticipate that Banco Bradesco SA will post ($0.15) earnings per share for the current fiscal year.
The company also recently announced a dividend, which will be paid on Tuesday, November 8th. Shareholders of record on Thursday, October 6th will be given a $0.005 dividend. This is a positive change from Banco Bradesco SA’s previous dividend of $0.00. The ex-dividend date of this dividend is Tuesday, October 4th. Banco Bradesco SA’s payout ratio is presently 7.33%.
A number of hedge funds have recently made changes to their positions in the stock. Meiji Yasuda Asset Management Co Ltd. purchased a new stake in shares of Banco Bradesco SA during the first quarter worth about $122,000. Investec Asset Management North America Inc. raised its stake in shares of Banco Bradesco SA by 1.2% in the first quarter. Investec Asset Management North America Inc. now owns 1,353,652 shares of the company’s stock worth $10,085,000 after buying an additional 16,138 shares during the last quarter. ING Groep NV raised its stake in shares of Banco Bradesco SA by 300.6% in the first quarter. ING Groep NV now owns 786,909 shares of the company’s stock worth $5,862,000 after buying an additional 590,481 shares during the last quarter. Investec Asset Management LTD raised its stake in shares of Banco Bradesco SA by 3.3% in the first quarter. Investec Asset Management LTD now owns 6,478,188 shares of the company’s stock worth $48,263,000 after buying an additional 206,249 shares during the last quarter. Finally, Bessemer Group Inc. raised its stake in shares of Banco Bradesco SA by 69.7% in the first quarter. Bessemer Group Inc. now owns 1,255,820 shares of the company’s stock worth $9,356,000 after buying an additional 515,600 shares during the last quarter. 4.36% of the stock is currently owned by institutional investors.
About Banco Bradesco SA
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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