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

Zacks Investment Research downgraded shares of Banco Bradesco (NYSE:BBD) from a hold rating to a sell rating in a research note 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 research analysts have also weighed in on the stock. Goldman Sachs Group assumed coverage on shares of Banco Bradesco in a research report on Monday, June 10th. They set a sell rating and a $9.58 price target on the stock. ValuEngine lowered shares of Banco Bradesco from a buy rating to a hold rating in a research report on Wednesday, July 31st. Finally, Morgan Stanley raised shares of Banco Bradesco from an equal weight rating to an overweight rating in a research report on Wednesday, August 7th. Four investment analysts have rated the stock with a sell rating, one has assigned a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of Hold and an average target price of $10.29.

BBD opened at $8.27 on Friday. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.15 and a quick ratio of 1.10. The company’s 50-day moving average is $9.52 and its 200 day moving average is $9.96. Banco Bradesco has a fifty-two week low of $5.41 and a fifty-two week high of $10.55. The firm has a market capitalization of $79.13 billion, a P/E ratio of 11.65, a PEG ratio of 0.47 and a beta of 0.93.

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be given a dividend of $0.004 per share. This represents a $0.05 dividend on an annualized basis and a dividend yield of 0.58%. The ex-dividend date of this dividend is Tuesday, September 3rd. Banco Bradesco’s payout ratio is currently 7.04%.

A number of hedge funds have recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. raised its position in Banco Bradesco by 9.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 13,080 shares of the bank’s stock worth $128,000 after acquiring an additional 1,180 shares during the period. Shine Investment Advisory Services Inc. raised its position in Banco Bradesco by 20.0% in the second quarter. Shine Investment Advisory Services Inc. now owns 7,244 shares of the bank’s stock worth $71,000 after acquiring an additional 1,207 shares during the period. Compagnie Lombard Odier SCmA raised its position in Banco Bradesco by 20.0% in the second quarter. Compagnie Lombard Odier SCmA now owns 7,994 shares of the bank’s stock worth $79,000 after acquiring an additional 1,331 shares during the period. Lindbrook Capital LLC raised its position in Banco Bradesco by 28.1% in the second quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock worth $62,000 after acquiring an additional 1,393 shares during the period. Finally, Gould Asset Management LLC CA raised its position in Banco Bradesco by 7.7% in the second quarter. Gould Asset Management LLC CA now owns 24,363 shares of the bank’s stock worth $239,000 after acquiring an additional 1,737 shares during the period. 2.18% of the stock is currently owned by institutional investors and hedge funds.

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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