Zacks Investment Research downgraded shares of Banco Bradesco (NYSE: BBD – Get Valuation) from a buy rating to a hold rating in a report released Tuesday morning, Zacks.com reports.
According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial loans, credit cards, mortgages, 24-hour banking services, health and life insurance , leasing, pension fund management and services for stock market investors.”
Separately, Barclays began covering Banco Bradesco shares in a research note on Monday, January 24. They set an overweight rating and a price target of $4.55 for the stock.
NYSE:BBD shares opened at $3.60 on Tuesday. The company’s fifty-day moving average price is $3.87 and its 200-day moving average price is $3.56. Banco Bradesco has a 12-month low of $2.95 and a 12-month high of $5.18. The company has a debt ratio of 1.34, a current ratio of 0.64 and a quick ratio of 1.46. The company has a market capitalization of $38.49 billion, a P/E ratio of 9.66, a P/E/G ratio of 0.42 and a beta of 0.92.
Banco Bradesco (NYSE:BBD – Get Rating) last reported quarterly results on Tuesday, February 8. The bank reported EPS of $0.11 for the quarter, meeting Thomson Reuters consensus estimate of $0.11. Banco Bradesco achieved a net margin of 21.20% and a return on equity of 17.91%. The company posted revenue of $6.21 billion for the quarter, versus analyst estimates of $5.08 billion. On average, sell-side analysts expect Banco Bradesco to post EPS of 0.51 for the current year.
The company also recently disclosed a — dividend, which will be paid on Wednesday, June 8. Shareholders of record on Wednesday, May 4 will receive a dividend of $0.004 per share. This is an increase from Banco Bradesco’s previous dividend of $0.00. This represents a return of 3.7%. The ex-dividend date is Tuesday, May 3. Banco Bradesco’s dividend payout ratio (DPR) is currently 8.05%.
Institutional investors have recently changed their stake in the company. 44 Wealth Management LLC acquired a new position in Banco Bradesco during Q4 worth $35,000. Clarus Group Inc. acquired a new position in Banco Bradesco during the 4th quarter worth $35,000. Creative Planning purchased a new position at Banco Bradesco during Q3 worth $40,000. Tudor Investment Corp Et Al bought a new equity stake in Banco Bradesco in the third quarter worth about $40,000. Finally, Dubuque Bank & Trust Co. bought a new equity stake in Banco Bradesco in the fourth quarter valued at around $40,000. 2.25% of the shares are currently held by institutional investors.
About Banco Bradesco (Get a rating)
Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, businesses and companies in Brazil and abroad. The Company operates through Banking and Insurance segments. It provides demand, term and savings deposits; mutual fund; a range of loans and advances, including overdrafts, credit cards and installment loans; and funds and treasury management, foreign exchange, corporate finance and investment banking, and hedge finance and working capital services.
Get a Free Copy of Zacks’ Research Report on Banco Bradesco (BBD)
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
Get news and reviews for Banco Bradesco Daily – Enter your email address below to receive a concise daily summary of the latest news and analyst ratings for Banco Bradesco and related companies with MarketBeat.com’s FREE daily newsletter.