Banco Bradesco SA (BBD) Earns “Neutral” Rating from Goldman Sachs Group Inc.
Banco Bradesco SA (NYSE:BBD)‘s stock had its “neutral” rating restated by investment analysts at Goldman Sachs Group Inc. in a research report issued on Wednesday.
A number of other research firms have also weighed in on BBD. Credit Suisse Group AG raised Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a research note on Thursday, July 14th. JPMorgan Chase & Co. lowered Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a research note on Wednesday, July 6th. Two investment 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’s stock. Banco Bradesco SA currently has a consensus rating of “Hold” and an average price target of $4.91.
Shares of Banco Bradesco SA (NYSE:BBD) traded up 1.15% during mid-day trading on Wednesday, reaching $8.78. 1,837,310 shares of the company’s stock were exchanged. The stock has a 50-day moving average of $8.90 and a 200 day moving average of $7.70. Banco Bradesco SA has a one year low of $3.65 and a one year high of $9.46. The firm has a market capitalization of $48.57 billion, a P/E ratio of 9.13 and a beta of 1.99.
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Banco Bradesco SA (NYSE:BBD) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.21 by $0.76. Banco Bradesco SA had a return on equity of 18.51% and a net margin of 11.75%. On average, analysts forecast that Banco Bradesco SA will post ($0.15) EPS for the current fiscal year.
The firm also recently declared a dividend, which will be paid on Tuesday, November 8th. Investors of record on Thursday, October 6th will be paid 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 dividend payout ratio (DPR) is presently 7.33%.
A number of hedge funds have recently made changes to their positions in the company. Candriam Luxembourg S.C.A. raised its stake in shares of Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 14,300 shares of the company’s stock worth $112,000 after buying an additional 1,300 shares during the last quarter. Johnson Investment Counsel Inc. raised its position in shares of Banco Bradesco SA by 10.0% in the second quarter. Johnson Investment Counsel Inc. now owns 16,060 shares of the company’s stock valued at $125,000 after buying an additional 1,460 shares in the last quarter. First Trust Advisors LP raised its position in shares of Banco Bradesco SA by 31.0% in the second quarter. First Trust Advisors LP now owns 13,620 shares of the company’s stock valued at $106,000 after buying an additional 3,225 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of Banco Bradesco SA by 28.7% in the first quarter. Ladenburg Thalmann Financial Services Inc. now owns 14,985 shares of the company’s stock valued at $112,000 after buying an additional 3,345 shares in the last quarter. Finally, CIBC World Markets Inc. raised its position in shares of Banco Bradesco SA by 7.7% in the second quarter. CIBC World Markets Inc. now owns 50,448 shares of the company’s stock valued at $394,000 after buying an additional 3,592 shares in the last quarter. 4.36% of the stock is owned by institutional investors.
Banco Bradesco SA Company Profile
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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