Banco Bradesco SA (NYSE:BBD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday.

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. “

Several other research analysts also recently weighed in on BBD. Goldman Sachs Group, Inc. (The) upgraded shares of Banco Bradesco SA from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a research report on Monday, September 11th. Scotiabank cut Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. ValuEngine upgraded Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 5th. One analyst has rated the stock with a sell rating, one has given a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company’s stock. Banco Bradesco SA currently has an average rating of “Buy” and a consensus target price of $12.20.

Banco Bradesco SA (NYSE BBD) traded up 4.06% during trading on Tuesday, reaching $11.66. The company’s stock had a trading volume of 12,474,000 shares. The stock has a 50-day moving average of $10.91 and a 200 day moving average of $9.55. The firm has a market capitalization of $70.95 billion, a P/E ratio of 12.81 and a beta of 1.77. Banco Bradesco SA has a one year low of $7.15 and a one year high of $11.67.

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A number of institutional investors and hedge funds have recently made changes to their positions in the business. ZWJ Investment Counsel Inc. grew its holdings in shares of Banco Bradesco SA by 1.4% during the second quarter. ZWJ Investment Counsel Inc. now owns 15,596 shares of the bank’s stock worth $133,000 after buying an additional 217 shares in the last quarter. US Bancorp DE raised its position in shares of Banco Bradesco SA by 4.4% in the first quarter. US Bancorp DE now owns 10,993 shares of the bank’s stock valued at $113,000 after buying an additional 468 shares during the last quarter. Checchi Capital Advisers LLC raised its position in shares of Banco Bradesco SA by 7.2% in the second quarter. Checchi Capital Advisers LLC now owns 24,028 shares of the bank’s stock valued at $204,000 after buying an additional 1,612 shares during the last quarter. Candriam Luxembourg S.C.A. lifted its stake in shares of Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 21,252 shares of the bank’s stock worth $181,000 after buying an additional 1,932 shares in the last quarter. Finally, Gould Asset Management LLC CA lifted its stake in shares of Banco Bradesco SA by 10.0% in the second quarter. Gould Asset Management LLC CA now owns 23,008 shares of the bank’s stock worth $196,000 after buying an additional 2,086 shares in the last quarter. 2.65% of the stock is currently owned by 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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