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

Banco Bradesco (NYSE:BBD) was downgraded by Zacks Investment Research 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. “

A number of other equities analysts have also issued reports on BBD. ValuEngine lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Wednesday, July 31st. Morgan Stanley raised Banco Bradesco from an “equal weight” rating to an “overweight” rating in a research report on Wednesday, August 7th. Finally, Goldman Sachs Group began coverage on Banco Bradesco in a research report on Monday, June 10th. They set a “sell” rating and a $9.58 price target on the stock. Four research analysts have rated the stock with a sell rating, one has given a hold rating and one has given a buy rating to the company. Banco Bradesco currently has an average rating of “Hold” and a consensus target price of $10.29.

BBD stock traded up $0.02 during midday trading on Friday, reaching $8.27. The stock had a trading volume of 9,695,342 shares, compared to its average volume of 14,520,219. The stock has a market cap of $82.60 billion, a PE ratio of 11.65, a P/E/G ratio of 0.49 and a beta of 0.93. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.15. The firm has a fifty day simple moving average of $9.55 and a two-hundred day simple moving average of $9.97. Banco Bradesco has a 52-week low of $5.41 and a 52-week high of $10.55.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Bank of New York Mellon Corp boosted its holdings in Banco Bradesco by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 66,279 shares of the bank’s stock worth $655,000 after buying an additional 4,081 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Banco Bradesco by 1.0% in the 4th quarter. Dimensional Fund Advisors LP now owns 15,005,735 shares of the bank’s stock worth $148,416,000 after buying an additional 148,882 shares during the last quarter. Bailard Inc. acquired a new stake in Banco Bradesco in the 1st quarter worth about $786,000. BNP Paribas Arbitrage SA boosted its holdings in Banco Bradesco by 98.9% in the 1st quarter. BNP Paribas Arbitrage SA now owns 764,762 shares of the bank’s stock worth $8,344,000 after buying an additional 380,226 shares during the last quarter. Finally, Bank of Montreal Can boosted its holdings in Banco Bradesco by 110.8% in the 1st quarter. Bank of Montreal Can now owns 558,297 shares of the bank’s stock worth $5,076,000 after buying an additional 293,471 shares during the last quarter. 2.18% of the stock is currently owned by institutional investors.

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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