Zacks Investment Research Lowers Banco Bradesco (NYSE:BBD) to Hold

Zacks Investment Research downgraded shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a report issued on Monday, 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. “

BBD has been the topic of a number of other research reports. ValuEngine lowered shares of Intersect ENT from a buy rating to a hold rating in a research note on Monday, June 3rd. Goldman Sachs Group downgraded shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. Three research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $10.29.

NYSE:BBD traded down $0.15 during mid-day trading on Monday, hitting $10.24. 764,393 shares of the stock traded hands, compared to its average volume of 14,641,228. The stock has a market cap of $100.15 billion, a PE ratio of 14.32, a price-to-earnings-growth ratio of 0.59 and a beta of 0.92. Banco Bradesco has a 52 week low of $5.41 and a 52 week high of $10.55. The stock has a 50 day moving average price of $9.49. 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 (NYSE:BBD) last issued its quarterly earnings results on Thursday, April 25th. The bank reported $0.21 EPS for the quarter, beating the consensus estimate of $0.18 by $0.03. The company had revenue of $9.26 billion for the quarter, compared to the consensus estimate of $6.51 billion. Banco Bradesco had a net margin of 15.96% and a return on equity of 18.75%. Research analysts predict that Banco Bradesco will post 0.78 EPS for the current fiscal year.

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

Institutional investors have recently modified their holdings of the stock. Icon Wealth Partners LLC purchased a new position in Banco Bradesco in the first quarter worth approximately $34,000. Parallel Advisors LLC lifted its stake in Banco Bradesco by 293.1% in the first quarter. Parallel Advisors LLC now owns 3,286 shares of the bank’s stock worth $36,000 after acquiring an additional 2,450 shares during the last quarter. Advisor Group Inc. lifted its position in shares of Banco Bradesco by 125.8% during the 4th quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock worth $83,000 after buying an additional 4,652 shares during the last quarter. OLD Mission Capital LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $100,000. Finally, Bluefin Trading LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $127,000. Institutional investors own 2.06% of the company’s stock.

Banco Bradesco Company Profile

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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