Banco Bradesco (BBD) Lifted to Buy at Zacks Investment Research

Banco Bradesco (NYSE:BBD) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $12.00 target price on the bank’s stock. Zacks Investment Research‘s target price suggests a potential upside of 12.99% from the stock’s current price.

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 reports about the company. Scotiabank cut Banco Bradesco from an “outperform” rating to a “sector perform” rating in a research note on Tuesday, September 5th. ValuEngine cut Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Finally, Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a research report on Monday, September 11th. One equities research analyst has rated the stock with a hold rating, four have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $12.20.

Banco Bradesco (NYSE BBD) traded up $0.38 during trading on Wednesday, hitting $10.62. The stock had a trading volume of 7,750,200 shares, compared to its average volume of 6,624,150. The stock has a market cap of $63,130.00, a PE ratio of 11.67, a P/E/G ratio of 0.91 and a beta of 1.72. Banco Bradesco has a 12 month low of $7.83 and a 12 month high of $11.86.

Several hedge funds have recently bought and sold shares of BBD. Shelton Capital Management increased its position in Banco Bradesco by 69.0% in the third quarter. Shelton Capital Management now owns 173,699 shares of the bank’s stock worth $1,923,000 after buying an additional 70,909 shares during the period. Cubist Systematic Strategies LLC acquired a new position in shares of Banco Bradesco during the third quarter valued at $1,062,000. First Allied Advisory Services Inc. acquired a new position in shares of Banco Bradesco during the third quarter valued at $583,000. Oppenheimer Asset Management Inc. increased its holdings in shares of Banco Bradesco by 19.0% during the third quarter. Oppenheimer Asset Management Inc. now owns 73,369 shares of the bank’s stock valued at $812,000 after purchasing an additional 11,711 shares during the period. Finally, Stifel Financial Corp increased its holdings in shares of Banco Bradesco by 69.1% during the third quarter. Stifel Financial Corp now owns 36,921 shares of the bank’s stock valued at $409,000 after purchasing an additional 15,091 shares during the period. 2.70% of the stock is currently owned by institutional investors and hedge funds.

COPYRIGHT VIOLATION WARNING: “Banco Bradesco (BBD) Lifted to Buy at Zacks Investment Research” was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece on another publication, it was copied illegally and republished in violation of U.S. & international trademark & copyright legislation. The original version of this piece can be read at https://www.chaffeybreeze.com/2018/01/03/banco-bradesco-bbd-lifted-to-buy-at-zacks-investment-research.html.

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.

Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply