Zacks Investment Research Lowers Banco Bradesco (BBD) to Hold

Zacks Investment Research lowered shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning.

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. “

Other equities analysts have also recently issued research reports about the stock. ValuEngine cut shares of Banco Bradesco from a strong-buy rating to a buy rating in a research note on Tuesday, October 31st. Goldman Sachs Group upgraded shares of Banco Bradesco from a neutral rating to a buy rating and set a $12.40 target price on the stock in a research note on Monday, September 11th. Two analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock currently has an average rating of Buy and an average target price of $12.20.

Banco Bradesco (NYSE BBD) traded up $0.01 on Tuesday, reaching $11.00. 5,857,721 shares of the company’s stock traded hands, compared to its average volume of 5,641,571. The company has a market cap of $73,562.45, a PE ratio of 14.67, a P/E/G ratio of 0.98 and a beta of 1.72. Banco Bradesco has a 1-year low of $7.83 and a 1-year high of $11.86.

The business also recently announced a special dividend, which will be paid on Monday, February 12th. Shareholders of record on Thursday, January 4th will be paid a dividend of $0.0057 per share. This represents a yield of 29.41%. The ex-dividend date of this dividend is Wednesday, January 3rd. Banco Bradesco’s dividend payout ratio is currently 33.33%.

Institutional investors and hedge funds have recently bought and sold shares of the business. LSV Asset Management increased its position in shares of 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 last quarter. AXA increased its position in shares of 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 last quarter. Comerica Bank increased its position in shares of Banco Bradesco by 3.0% during the 2nd quarter. Comerica Bank now owns 167,209 shares of the bank’s stock valued at $1,565,000 after purchasing an additional 4,826 shares during the last quarter. ETRADE Capital Management LLC increased its position in shares of Banco Bradesco by 13.7% during the 3rd quarter. ETRADE Capital Management LLC now owns 57,553 shares of the bank’s stock valued at $637,000 after purchasing an additional 6,939 shares during the last quarter. Finally, Symphony Asset Management LLC increased its position in shares of Banco Bradesco by 25.2% during the 2nd quarter. Symphony Asset Management LLC now owns 40,981 shares of the bank’s stock valued at $348,000 after purchasing an additional 8,252 shares during the last quarter. Institutional investors and hedge funds own 2.70% of the company’s stock.

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About Banco Bradesco

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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