Banco Bradesco SA (BBD) Stock Rating Upgraded by Goldman Sachs Group, Inc. (The)

Banco Bradesco SA (NYSE:BBD) was upgraded by stock analysts at Goldman Sachs Group, Inc. (The) from a “neutral” rating to a “buy” rating in a report released on Monday. The firm currently has a $12.40 price objective on the bank’s stock. Goldman Sachs Group, Inc. (The)’s price objective indicates a potential upside of 9.93% from the stock’s previous close.

Several other research firms have also recently issued reports on BBD. Scotiabank cut shares of Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. ValuEngine upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Finally, BidaskClub upgraded shares of Banco Bradesco SA from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 5th. Two analysts have rated the stock with a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $12.20.

Shares of Banco Bradesco SA (BBD) opened at 11.28 on Monday. The firm has a market capitalization of $68.64 billion, a P/E ratio of 12.37 and a beta of 1.75. The stock’s 50 day moving average is $10.26 and its 200-day moving average is $9.35. Banco Bradesco SA has a 52-week low of $7.15 and a 52-week high of $11.47.

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Several institutional investors have recently bought and sold shares of the company. ZWJ Investment Counsel Inc. boosted its holdings in shares of Banco Bradesco SA by 1.4% in the second quarter. ZWJ Investment Counsel Inc. now owns 15,596 shares of the bank’s stock valued at $133,000 after acquiring an additional 217 shares in the last quarter. Ronald Blue & Co. LLC boosted its holdings in shares of Banco Bradesco SA by 4.4% in the first quarter. Ronald Blue & Co. LLC now owns 10,961 shares of the bank’s stock valued at $112,000 after acquiring an additional 466 shares in the last quarter. US Bancorp DE boosted its holdings 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 acquiring an additional 468 shares in the last quarter. Checchi Capital Advisers LLC boosted its holdings 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 acquiring an additional 1,612 shares in the last quarter. Finally, Candriam Luxembourg S.C.A. boosted its holdings 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 valued at $181,000 after acquiring an additional 1,932 shares in the last quarter. Institutional investors and hedge funds own 2.65% of the company’s stock.

Banco Bradesco SA 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.

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