Banco Bradesco SA (BBD) Given Average Rating of “Buy” by Brokerages

Shares of Banco Bradesco SA (NYSE:BBD) have been assigned a consensus recommendation of “Buy” from the seven ratings firms that are currently covering the firm, MarketBeat Ratings reports. Two research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year target price among analysts that have issued a report on the stock in the last year is $12.40.

BBD has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Banco Bradesco from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. ValuEngine upgraded shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and set a $12.40 price target for the company in a report on Monday, September 11th. Finally, Scotiabank cut shares of Banco Bradesco from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th.

Hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp grew its holdings in Banco Bradesco by 8.7% during the 2nd quarter. State Street Corp now owns 9,527,392 shares of the bank’s stock worth $80,982,000 after acquiring an additional 761,609 shares in the last quarter. BT Investment Management Ltd acquired a new position in Banco Bradesco during the 2nd quarter worth approximately $22,396,000. Vanguard Group Inc. grew its holdings in Banco Bradesco by 17.8% during the 2nd quarter. Vanguard Group Inc. now owns 38,651,585 shares of the bank’s stock worth $328,538,000 after acquiring an additional 5,844,907 shares in the last quarter. Aperio Group LLC grew its holdings in Banco Bradesco by 7.5% during the 3rd quarter. Aperio Group LLC now owns 893,427 shares of the bank’s stock worth $9,890,000 after acquiring an additional 62,284 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale grew its holdings in Banco Bradesco by 10.0% during the 2nd quarter. DekaBank Deutsche Girozentrale now owns 27,390 shares of the bank’s stock worth $229,000 after acquiring an additional 2,490 shares in the last quarter. Institutional investors own 2.71% of the company’s stock.

Banco Bradesco (BBD) opened at $10.00 on Friday. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.78. The firm has a market cap of $67,538.23, a P/E ratio of 10.58, a P/E/G ratio of 1.01 and a beta of 1.72. Banco Bradesco has a twelve month low of $7.15 and a twelve month high of $11.86.

The company also recently declared a monthly dividend, which will be paid on Tuesday, January 9th. Shareholders of record on Tuesday, December 5th will be issued a dividend of $0.0058 per share. This represents a $0.07 annualized dividend and a yield of 0.69%. The ex-dividend date is Monday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 8.00%.

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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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