Banco Bradesco (NYSE:BBD) Lowered to Sell at Zacks Investment Research

Zacks Investment Research lowered shares of Banco Bradesco (NYSE:BBD) from a hold rating to a sell rating in a report released on Friday, Zacks.com reports.

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. “

BBD has been the topic of a number of other research reports. Goldman Sachs Group assumed coverage on shares of Banco Bradesco in a research report on Monday, June 10th. They set a sell rating and a $9.58 target price on the stock. ValuEngine downgraded shares of Banco Bradesco from a buy rating to a hold rating in a research report on Wednesday. Four analysts have rated the stock with a sell rating and two have assigned a hold rating to the company’s stock. The company presently has an average rating of Sell and a consensus price target of $10.29.

BBD traded down $0.10 on Friday, reaching $8.77. 11,207,416 shares of the company traded hands, compared to its average volume of 12,258,946. Banco Bradesco has a one year low of $5.41 and a one year high of $10.55. The firm has a fifty day moving average price of $9.79. The firm has a market capitalization of $84.53 billion, a P/E ratio of 12.35, a P/E/G ratio of 0.52 and a beta of 0.93. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79.

The firm also recently announced a dividend, which was paid on Monday, July 22nd. Shareholders of record on Tuesday, July 2nd were given a dividend of $0.037 per share. This is an increase from Banco Bradesco’s previous dividend of $0.01. The ex-dividend date of this dividend was Monday, July 1st. Banco Bradesco’s dividend payout ratio (DPR) is 5.63%.

A number of hedge funds and other institutional investors have recently bought and sold shares of BBD. Fisher Asset Management LLC increased its position in Banco Bradesco by 18.9% during the 2nd quarter. Fisher Asset Management LLC now owns 41,449,039 shares of the bank’s stock valued at $407,030,000 after purchasing an additional 6,577,776 shares during the period. INCA Investments LLC grew its position in shares of Banco Bradesco by 2,114.8% in the 2nd quarter. INCA Investments LLC now owns 4,352,000 shares of the bank’s stock worth $42,737,000 after buying an additional 4,155,500 shares during the last quarter. SPX Equities Gestao de Recursos Ltda grew its position in shares of Banco Bradesco by 992.2% in the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 3,020,689 shares of the bank’s stock worth $29,663,000 after buying an additional 2,744,110 shares during the last quarter. Bessemer Group Inc. purchased a new position in shares of Banco Bradesco in the 2nd quarter worth approximately $25,482,000. Finally, SG Americas Securities LLC grew its position in shares of Banco Bradesco by 107.4% in the 1st quarter. SG Americas Securities LLC now owns 161,801 shares of the bank’s stock worth $1,765,000 after buying an additional 2,356,833 shares during the last quarter. 2.11% of the stock is currently owned by institutional investors and hedge funds.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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