Banco Bradesco (NYSE:BBD) Stock Keeps Neutral Rating at Citigroup

Banco Bradesco (NYSE:BBD)‘s stock had its “neutral” rating reissued by research analysts at Citigroup in a research report issued to clients and investors on Tuesday, Benzinga reports.

BBD has been the subject of several other reports. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. HSBC cut Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price target for the company. in a research note on Thursday, October 8th. The Goldman Sachs Group restated a “neutral” rating and issued a $4.20 price objective on shares of Banco Bradesco in a report on Friday, October 9th. Bradesco Corretora raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Banco Bradesco has a consensus rating of “Moderate Buy” and a consensus price target of $4.05.

Banco Bradesco Stock Down 0.2%

BBD traded down $0.01 during trading on Tuesday, reaching $2.92. 82,273,717 shares of the stock traded hands, compared to its average volume of 37,423,816. The stock has a market cap of $31.00 billion, a price-to-earnings ratio of 6.36, a price-to-earnings-growth ratio of 0.72 and a beta of 0.46. Banco Bradesco has a fifty-two week low of $2.74 and a fifty-two week high of $4.58. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The stock’s 50-day simple moving average is $3.61 and its two-hundred day simple moving average is $3.67.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Banco Bradesco had a net margin of 12.58% and a return on equity of 15.51%. The firm had revenue of $6.32 billion during the quarter, compared to analysts’ expectations of $7.52 billion. As a group, equities research analysts expect that Banco Bradesco will post 0.50 EPS for the current year.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBD. Tidal Investments LLC boosted its holdings in shares of Banco Bradesco by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock worth $558,000 after buying an additional 2,990 shares during the period. Compound Planning Inc. grew its stake in Banco Bradesco by 2.1% in the 1st quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock valued at $579,000 after buying an additional 3,247 shares during the last quarter. Cetera Investment Advisers raised its holdings in Banco Bradesco by 16.7% in the 1st quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock worth $90,000 after acquiring an additional 3,519 shares during the period. Plan A Wealth LLC raised its holdings in Banco Bradesco by 22.1% in the 3rd quarter. Plan A Wealth LLC now owns 23,327 shares of the bank’s stock worth $82,000 after acquiring an additional 4,224 shares during the period. Finally, Inspire Investing LLC raised its holdings in Banco Bradesco by 16.9% in the 3rd quarter. Inspire Investing LLC now owns 30,565 shares of the bank’s stock worth $108,000 after acquiring an additional 4,408 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.