Banco Bradesco SA (BBD) Raised to “Strong-Buy” at ValuEngine
Banco Bradesco SA (NYSE:BBD) was upgraded by ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Friday, June 2nd.
A number of other equities research analysts also recently issued reports on BBD. Zacks Investment Research downgraded shares of Banco Bradesco SA from a “buy” rating to a “hold” rating in a report on Wednesday, February 8th. Scotiabank raised shares of Banco Bradesco SA from an “underperform” rating to a “sector perform” rating in a research report on Tuesday, April 11th. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $10.65.
Banco Bradesco SA (NYSE BBD) traded down 2.68% during midday trading on Friday, reaching $7.98. 12,431,478 shares of the company’s stock were exchanged. Banco Bradesco SA has a 52 week low of $6.05 and a 52 week high of $10.37. The firm has a market capitalization of $48.56 billion, a P/E ratio of 8.86 and a beta of 1.73. The stock’s 50 day moving average is $9.08 and its 200 day moving average is $8.91.
Banco Bradesco SA (NYSE:BBD) last released its earnings results on Thursday, April 27th. The bank reported $0.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.24 by $0.03. Banco Bradesco SA had a net margin of 9.08% and a return on equity of 17.32%. The firm had revenue of $13.25 billion during the quarter. On average, analysts expect that Banco Bradesco SA will post $0.95 EPS for the current fiscal year.
The firm also recently declared a special dividend, which will be paid on Tuesday, August 8th. Shareholders of record on Thursday, July 6th will be given a dividend of $0.006 per share. The ex-dividend date is Monday, July 3rd. This represents a yield of 0.75%. Banco Bradesco SA’s dividend payout ratio (DPR) is 7.95%.
A number of hedge funds and other institutional investors have recently made changes to their positions in BBD. Aberdeen Asset Management PLC UK boosted its position in shares of Banco Bradesco SA by 1.8% in the first quarter. Aberdeen Asset Management PLC UK now owns 150,436,627 shares of the bank’s stock worth $1,540,472,000 after buying an additional 2,624,120 shares during the period. BlackRock Inc. boosted its position in shares of Banco Bradesco SA by 6,852.4% in the first quarter. BlackRock Inc. now owns 39,254,732 shares of the bank’s stock worth $401,969,000 after buying an additional 38,690,111 shares during the period. Vanguard Group Inc. boosted its position in shares of Banco Bradesco SA by 5.3% in the first quarter. Vanguard Group Inc. now owns 32,806,678 shares of the bank’s stock worth $335,940,000 after buying an additional 1,658,539 shares during the period. Harding Loevner LP boosted its position in shares of Banco Bradesco SA by 2.2% in the first quarter. Harding Loevner LP now owns 21,175,686 shares of the bank’s stock worth $216,839,000 after buying an additional 453,801 shares during the period. Finally, AQR Capital Management LLC boosted its position in shares of Banco Bradesco SA by 26.7% in the fourth quarter. AQR Capital Management LLC now owns 19,613,898 shares of the bank’s stock worth $170,837,000 after buying an additional 4,131,442 shares during the period. 2.74% of the stock is currently owned by hedge funds and other institutional investors.
About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank 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. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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