Banco Bradesco (NYSE:BBD) Downgraded to “Hold” at Zacks Investment Research

Zacks Investment Research cut shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a research report sent to investors on Monday 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 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 research analysts also recently commented on the company. ValuEngine downgraded Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Goldman Sachs Group downgraded SUMCO CORP/ADR from a buy rating to a neutral rating in a research note on Monday, June 10th. Three investment analysts have rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. Banco Bradesco presently has an average rating of Hold and an average target price of $10.29.

Shares of NYSE BBD opened at $10.25 on Monday. The company has a 50-day moving average price of $9.52. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.79. Banco Bradesco has a one year low of $5.41 and a one year high of $10.55. The stock has a market capitalization of $100.15 billion, a P/E ratio of 13.38, a P/E/G ratio of 0.59 and a beta of 0.92.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, April 25th. The bank reported $0.21 EPS for the quarter, beating analysts’ consensus estimates of $0.18 by $0.03. Banco Bradesco had a return on equity of 18.75% and a net margin of 15.96%. The firm had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $6.51 billion. On average, equities research analysts forecast that Banco Bradesco will post 0.78 EPS for the current fiscal year.

The company also recently announced a dividend, which will be paid on Monday, July 22nd. Shareholders of record on Tuesday, July 2nd will be paid a $0.037 dividend. The ex-dividend date of this dividend is Monday, July 1st. This is an increase from Banco Bradesco’s previous dividend of $0.01. Banco Bradesco’s payout ratio is 5.63%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBD. SPX Equities Gestao de Recursos Ltda raised its holdings in Banco Bradesco by 992.2% in the 2nd quarter. SPX Equities Gestao de Recursos Ltda now owns 3,020,689 shares of the bank’s stock valued at $29,663,000 after acquiring an additional 2,744,110 shares in the last quarter. FMR LLC raised its holdings in Banco Bradesco by 1,146,373.3% in the 1st quarter. FMR LLC now owns 515,913 shares of the bank’s stock valued at $5,628,000 after acquiring an additional 515,868 shares in the last quarter. Marshall Wace North America L.P. acquired a new position in Banco Bradesco in the 1st quarter valued at approximately $18,606,000. Trexquant Investment LP acquired a new position in Banco Bradesco in the 1st quarter valued at approximately $1,737,000. Finally, Lazard Asset Management LLC raised its holdings in Banco Bradesco by 8.3% in the 1st quarter. Lazard Asset Management LLC now owns 9,334,580 shares of the bank’s stock valued at $101,840,000 after acquiring an additional 711,881 shares in the last quarter. Institutional investors own 2.06% of the company’s stock.

About Banco Bradesco

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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