Banco Bradesco SA (BBD) Receives Neutral Rating from Goldman Sachs Group Inc.
Banco Bradesco SA (NYSE:BBD)‘s stock had its “neutral” rating reiterated by research analysts at Goldman Sachs Group Inc. in a note issued to investors on Wednesday.
BBD has been the topic of several other research reports. Credit Suisse Group AG upgraded shares of Banco Bradesco SA from an “underperform” rating to an “outperform” rating in a report on Thursday, July 14th. JPMorgan Chase & Co. cut shares of Banco Bradesco SA from an “overweight” rating to a “neutral” rating in a report on Wednesday, July 6th. Two analysts have rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $4.91.
Banco Bradesco SA (NYSE:BBD) traded up 1.27% during mid-day trading on Wednesday, hitting $8.79. 1,047,025 shares of the stock traded hands. The firm has a market cap of $48.63 billion, a P/E ratio of 9.14 and a beta of 1.99. Banco Bradesco SA has a 52-week low of $3.65 and a 52-week high of $9.46. The firm’s 50-day moving average is $8.90 and its 200 day moving average is $7.70.
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Banco Bradesco SA (NYSE:BBD) last issued its earnings results on Thursday, July 28th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.76. Banco Bradesco SA had a net margin of 11.75% and a return on equity of 18.51%. Equities analysts predict 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 is Tuesday, October 4th. Banco Bradesco SA’s dividend payout ratio (DPR) is presently 7.33%.
Hedge funds have recently made changes to their positions in the company. BlackRock Fund Advisors raised its position in shares of Banco Bradesco SA by 3.9% in the first quarter. BlackRock Fund Advisors now owns 5,295,094 shares of the company’s stock valued at $39,448,000 after buying an additional 196,924 shares in the last quarter. Eqis Capital Management Inc. raised its position in shares of Banco Bradesco SA by 12.7% in the second quarter. Eqis Capital Management Inc. now owns 37,913 shares of the company’s stock valued at $296,000 after buying an additional 4,269 shares in the last quarter. Brandes Investment Partners LP raised its position in shares of Banco Bradesco SA by 29.9% in the second quarter. Brandes Investment Partners LP now owns 327,133 shares of the company’s stock valued at $2,555,000 after buying an additional 75,250 shares in the last quarter. Sprucegrove Investment Management Ltd. raised its position in shares of Banco Bradesco SA by 10.4% in the second quarter. Sprucegrove Investment Management Ltd. now owns 20,046,674 shares of the company’s stock valued at $156,565,000 after buying an additional 1,896,514 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Banco Bradesco SA by 30.3% in the first quarter. Envestnet Asset Management Inc. now owns 30,246 shares of the company’s stock valued at $225,000 after buying an additional 7,042 shares in the last quarter. 4.36% of the stock is 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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