Banco Bradesco (NYSE:BBD) Stock Bumped Down to Neutral by JPMorgan Chase & Co.

Banco Bradesco (NYSE:BBD) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued to investors on Thursday, Briefing.com reports.

BBD has been the topic of a number of other research reports. HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price on the stock. in a research note on Thursday, October 8th. Bradesco Corretora downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Thursday. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Citigroup cut Banco Bradesco from a “buy” rating to a “hold” rating in a report on Tuesday. Finally, Wall Street Zen raised Banco Bradesco to a “hold” rating in a report on Saturday, October 17th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Banco Bradesco currently has an average rating of “Hold” and a consensus target price of $4.05.

Banco Bradesco Stock Performance

BBD opened at $2.73 on Thursday. The firm has a market cap of $28.98 billion, a P/E ratio of 5.95, a PEG ratio of 0.72 and a beta of 0.46. Banco Bradesco has a 1-year low of $2.73 and a 1-year high of $4.58. The company has a 50 day simple moving average of $3.59 and a two-hundred day simple moving average of $3.66. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48.

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

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bank of America Corp DE raised its holdings in shares of Banco Bradesco by 355.9% during the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after acquiring an additional 21,920,074 shares in the last quarter. Amundi boosted its position in shares of Banco Bradesco by 20.0% during the 1st quarter. Amundi now owns 24,583,083 shares of the bank’s stock valued at $89,728,000 after acquiring an additional 4,099,099 shares during the last quarter. Sei Investments Co. boosted its position in shares of Banco Bradesco by 3.4% during the 1st quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after acquiring an additional 641,744 shares during the last quarter. Renaissance Technologies LLC grew its holdings in shares of Banco Bradesco by 103.9% in the first quarter. Renaissance Technologies LLC now owns 12,315,995 shares of the bank’s stock valued at $44,953,000 after purchasing an additional 6,276,800 shares in the last quarter. Finally, SPX Gestao de Recursos Ltda grew its holdings in shares of Banco Bradesco by 221.5% in the first quarter. SPX Gestao de Recursos Ltda now owns 11,051,974 shares of the bank’s stock valued at $40,340,000 after purchasing an additional 7,614,725 shares in the last quarter.

Banco Bradesco Company Profile

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.