Banco Bradesco (NYSE:BBD) Stock Rating Upgraded by Wall Street Zen

Banco Bradesco (NYSE:BBD) was upgraded by Wall Street Zen to a “hold” rating in a research note issued to investors on Saturday, Wall Street Zen reports.

A number of other brokerages also recently issued reports on BBD. The Goldman Sachs Group reiterated a “neutral” rating and set a $4.20 price objective on shares of Banco Bradesco in a research note on Friday, October 9th. Bradesco Corretora raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price for the company. in a research report on Thursday, October 8th. Finally, JPMorgan Chase & Co. raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Banco Bradesco has a consensus rating of “Moderate Buy” and an average target price of $4.05.

Banco Bradesco Stock Performance

BBD opened at $3.97 on Friday. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. Banco Bradesco has a 52-week low of $2.98 and a 52-week high of $4.58. The firm has a market cap of $42.04 billion, a P/E ratio of 9.45, a price-to-earnings-growth ratio of 0.61 and a beta of 0.46. The business’s fifty day moving average is $3.53 and its 200-day moving average is $3.59.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The business had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Sell-side analysts expect that Banco Bradesco will post 0.50 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors have recently modified their holdings of the business. Global Strategic Management Inc. bought a new position in shares of Banco Bradesco in the third quarter worth about $221,000. Euro Pacific Asset Management LLC boosted its stake in shares of Banco Bradesco by 3.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,136,944 shares of the bank’s stock valued at $3,742,000 after purchasing an additional 35,164 shares in the last quarter. Plan A Wealth LLC grew its holdings in shares of Banco Bradesco by 22.1% during the 3rd quarter. Plan A Wealth LLC now owns 23,327 shares of the bank’s stock valued at $82,000 after purchasing an additional 4,224 shares during the last quarter. QRG Capital Management Inc. grew its holdings in shares of Banco Bradesco by 16.3% during the 2nd quarter. QRG Capital Management Inc. now owns 201,615 shares of the bank’s stock valued at $700,000 after purchasing an additional 28,320 shares during the last quarter. Finally, ABS Direct Equity Fund LLC bought a new stake in shares of Banco Bradesco during the 2nd quarter valued at approximately $1,270,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.