Banco Bradesco (NYSE:BBD) Stock Rating Lowered by Zacks Investment Research


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Zacks Investment Research lowered shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a research note published on Tuesday, 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. “

Shares of Banco Bradesco stock opened at $4.62 on Tuesday. The company has a current ratio of 0.73, a quick ratio of 0.73 and a debt-to-equity ratio of 2.02. The business’s 50 day simple moving average is $4.47 and its 200-day simple moving average is $4.52. The stock has a market capitalization of $40.82 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.55 and a beta of 1.05. Banco Bradesco has a twelve month low of $2.68 and a twelve month high of $5.46.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, February 4th. The bank reported $0.14 earnings per share for the quarter, topping analysts’ consensus estimates of $0.12 by $0.02. The business had revenue of $4.93 billion for the quarter. Banco Bradesco had a return on equity of 14.39% and a net margin of 15.08%. Sell-side analysts predict that Banco Bradesco will post 0.35 earnings per share for the current year.

The business also recently declared a dividend, which will be paid on Tuesday, April 27th. Stockholders of record on Tuesday, April 20th will be given a dividend of $0.1356 per share. This represents a dividend yield of 3.05%. This is a boost from Banco Bradesco’s previous dividend of $0.00. The ex-dividend date is Monday, April 19th. Banco Bradesco’s dividend payout ratio is presently 4.23%.

Several institutional investors have recently made changes to their positions in the company. Amundi Pioneer Asset Management Inc. grew its holdings in Banco Bradesco by 19.8% in the 4th quarter. Amundi Pioneer Asset Management Inc. now owns 4,662,147 shares of the bank’s stock worth $24,523,000 after buying an additional 771,307 shares in the last quarter. Crossmark Global Holdings Inc. grew its holdings in Banco Bradesco by 1.3% in the 4th quarter. Crossmark Global Holdings Inc. now owns 464,943 shares of the bank’s stock worth $2,446,000 after buying an additional 6,066 shares in the last quarter. US Bancorp DE grew its holdings in Banco Bradesco by 8.2% in the 4th quarter. US Bancorp DE now owns 53,813 shares of the bank’s stock worth $284,000 after buying an additional 4,080 shares in the last quarter. Russell Investments Group Ltd. grew its holdings in Banco Bradesco by 58.7% in the 4th quarter. Russell Investments Group Ltd. now owns 7,003,862 shares of the bank’s stock worth $36,841,000 after buying an additional 2,589,273 shares in the last quarter. Finally, Pendal Group Limited grew its holdings in Banco Bradesco by 90.6% in the 4th quarter. Pendal Group Limited now owns 3,009,841 shares of the bank’s stock worth $15,832,000 after buying an additional 1,430,939 shares in the last quarter. Institutional investors and hedge funds own 2.06% of the company’s stock.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and financial services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking; and insurance, pension plans and capitalization bonds. The company offers checking and savings accounts, demand deposits, time deposits, salary, and interbank deposits.

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