Banco Bradesco (BBD) Lifted to “Buy” at ValuEngine

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Banco Bradesco (NYSE:BBD) was upgraded by ValuEngine from a “hold” rating to a “buy” rating in a research note issued on Friday.

BBD has been the subject of a number of other reports. Zacks Investment Research upgraded shares of Banco Bradesco from a “hold” rating to a “strong-buy” rating and set a $13.00 price objective for the company in a research note on Wednesday, January 23rd. Scotiabank lowered shares of Banco Bradesco from a “sector perform” rating to an “underperform” rating in a research note on Tuesday, February 26th. Finally, HSBC lowered shares of Banco Bradesco from a “hold” rating to a “reduce” rating in a research note on Tuesday, December 11th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Banco Bradesco has a consensus rating of “Hold” and an average target price of $13.00.

NYSE BBD traded up $0.11 during trading hours on Friday, reaching $11.91. 13,866,200 shares of the company’s stock traded hands, compared to its average volume of 13,195,494. Banco Bradesco has a 52-week low of $6.49 and a 52-week high of $12.56. The stock has a market cap of $78.98 billion, a P/E ratio of 14.01, a price-to-earnings-growth ratio of 0.63 and a beta of 1.05.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Wednesday, January 30th. The bank reported $0.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. Banco Bradesco had a net margin of 15.16% and a return on equity of 17.68%. The company had revenue of $8.91 billion during the quarter. On average, research analysts anticipate that Banco Bradesco will post 0.91 earnings per share for the current year.

A number of large investors have recently added to or reduced their stakes in BBD. Bank of America Corp DE increased its stake in Banco Bradesco by 128.4% during the 4th quarter. Bank of America Corp DE now owns 19,294,160 shares of the bank’s stock valued at $190,819,000 after purchasing an additional 10,845,906 shares in the last quarter. Capital Growth Management LP increased its stake in Banco Bradesco by 66.2% during the 3rd quarter. Capital Growth Management LP now owns 14,915,000 shares of the bank’s stock valued at $105,598,000 after purchasing an additional 5,940,000 shares in the last quarter. Man Group plc increased its stake in Banco Bradesco by 345.1% during the 3rd quarter. Man Group plc now owns 7,012,059 shares of the bank’s stock valued at $49,645,000 after purchasing an additional 5,436,559 shares in the last quarter. Baillie Gifford & Co. grew its stake in shares of Banco Bradesco by 13.5% in the third quarter. Baillie Gifford & Co. now owns 19,879,283 shares of the bank’s stock worth $140,745,000 after acquiring an additional 2,369,981 shares during the period. Finally, Dimensional Fund Advisors LP grew its stake in shares of Banco Bradesco by 18.0% in the third quarter. Dimensional Fund Advisors LP now owns 14,856,853 shares of the bank’s stock worth $105,234,000 after acquiring an additional 2,266,554 shares during the period. Institutional investors and hedge funds own 3.01% of the company’s stock.

About Banco Bradesco

Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.

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Analyst Recommendations for Banco Bradesco (NYSE:BBD)

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