Banco Bradesco (BBD) Upgraded at JPMorgan Chase & Co.

Banco Bradesco (NYSE:BBD) was upgraded by equities research analysts at JPMorgan Chase & Co. from a “neutral” rating to an “overweight” rating in a research report issued on Monday.

BBD has been the subject of several other research reports. Zacks Investment Research raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, January 3rd. Citigroup raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday. Finally, ValuEngine downgraded Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Two research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company. Banco Bradesco presently has an average rating of “Buy” and an average target price of $12.20.

Banco Bradesco (NYSE:BBD) traded up $0.17 during trading on Monday, hitting $11.58. The stock had a trading volume of 5,922,500 shares, compared to its average volume of 6,362,285. Banco Bradesco has a one year low of $7.83 and a one year high of $11.86. The firm has a market capitalization of $77,511.67, a P/E ratio of 15.44, a P/E/G ratio of 1.03 and a beta of 1.72.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Tuesday, October 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.21 by $0.04. Banco Bradesco had a return on equity of 17.71% and a net margin of 9.17%. analysts forecast that Banco Bradesco will post 0.81 EPS for the current fiscal year.

A number of large investors have recently added to or reduced their stakes in BBD. LSV Asset Management increased its position in Banco Bradesco by 10.0% during the 2nd quarter. LSV Asset Management now owns 28,600 shares of the bank’s stock valued at $243,000 after purchasing an additional 2,600 shares during the period. AXA increased its position in Banco Bradesco by 10.0% during the 2nd quarter. AXA now owns 51,782 shares of the bank’s stock valued at $440,000 after purchasing an additional 4,707 shares during the period. Ameriprise Financial Inc. increased its position in Banco Bradesco by 17.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 75,591 shares of the bank’s stock valued at $643,000 after purchasing an additional 11,473 shares during the period. Nationwide Fund Advisors increased its position in Banco Bradesco by 29.5% during the 2nd quarter. Nationwide Fund Advisors now owns 822,747 shares of the bank’s stock valued at $6,993,000 after purchasing an additional 187,295 shares during the period. Finally, BlackRock Inc. increased its position in Banco Bradesco by 3.1% during the 2nd quarter. BlackRock Inc. now owns 40,489,056 shares of the bank’s stock valued at $344,157,000 after purchasing an additional 1,234,324 shares during the period. 2.70% of the stock is owned by institutional investors and hedge funds.

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Banco Bradesco Company Profile

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.

Analyst Recommendations for Banco Bradesco (NYSE:BBD)

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