Banco Bradesco (BBD) Upgraded to Buy by Citigroup

Citigroup upgraded shares of Banco Bradesco (NYSE:BBD) from a neutral rating to a buy rating in a report issued on Thursday.

A number of other equities research analysts have also recently commented on the stock. Zacks Investment Research cut shares of Banco Bradesco from a hold rating to a sell rating in a report on Tuesday, October 3rd. ValuEngine cut shares of Banco Bradesco from a strong-buy rating to a buy rating in a report on Tuesday, October 31st. Two analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $12.20.

Banco Bradesco (NYSE BBD) traded up $0.17 during trading hours on Thursday, hitting $11.58. 5,922,512 shares of the company were exchanged, compared to its average volume of 6,362,285. The company has a market cap of $68,140.00, a PE ratio of 12.59, a PEG ratio of 1.01 and a beta of 1.72. Banco Bradesco has a 52 week low of $7.83 and a 52 week high of $11.86.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Tuesday, October 31st. The bank reported $0.25 EPS for the quarter, topping analysts’ consensus estimates of $0.21 by $0.04. Banco Bradesco had a net margin of 9.17% and a return on equity of 17.71%. research analysts expect that Banco Bradesco will post 0.81 EPS for the current fiscal year.

The firm also recently disclosed a special dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 5th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Friday, February 2nd. This represents a yield of 0.000438212094653812%. Banco Bradesco’s dividend payout ratio is 27.17%.

A number of institutional investors have recently added to or reduced their stakes in BBD. Fisher Asset Management LLC grew its stake in Banco Bradesco by 71.6% in the 3rd quarter. Fisher Asset Management LLC now owns 23,029,399 shares of the bank’s stock valued at $254,935,000 after buying an additional 9,611,759 shares in the last quarter. Vanguard Group Inc. grew its stake in Banco Bradesco by 17.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,651,585 shares of the bank’s stock valued at $328,538,000 after buying an additional 5,844,907 shares in the last quarter. Royal Bank of Canada grew its stake in Banco Bradesco by 60.1% in the 2nd quarter. Royal Bank of Canada now owns 14,951,070 shares of the bank’s stock valued at $127,084,000 after buying an additional 5,613,914 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in Banco Bradesco by 69.2% in the 2nd quarter. Dimensional Fund Advisors LP now owns 11,298,585 shares of the bank’s stock valued at $96,022,000 after buying an additional 4,622,402 shares in the last quarter. Finally, Renaissance Technologies LLC purchased a new position in Banco Bradesco in the 2nd quarter valued at approximately $30,421,000. Institutional investors and hedge funds own 2.70% of the company’s stock.

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Banco Bradesco Company Profile

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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