Banco Bradesco SA (NYSE:BBD) Stock Has Consensus Price Target of $4.05

by · The Cerbat Gem

Banco Bradesco SA (NYSE:BBD – Get Free Report) has received an average recommendation of “Hold” from the seven ratings firms that are presently covering the company, MarketBeat.com reports. Six research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $4.05.

BBD has been the subject of a number of research analyst reports. The Goldman Sachs Group reaffirmed a “neutral” rating and issued a $4.20 price target on shares of Banco Bradesco in a report on Friday, October 9th. Wall Street Zen raised shares of Banco Bradesco to a “hold” rating in a research report on Saturday, October 17th. Bradesco Corretora downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Thursday, October 29th. Citigroup downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Tuesday, October 27th. Finally, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Thursday, October 29th.

Read Our Latest Research Report on BBD

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ARGA Investment Management LP boosted its position in Banco Bradesco by 16.3% in the 3rd quarter. ARGA Investment Management LP now owns 82,243,666 shares of the bank’s stock worth $289,498,000 after purchasing an additional 11,525,758 shares in the last quarter. Bank of America Corp DE grew its holdings in Banco Bradesco by 355.9% during the first quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock valued at $102,487,000 after purchasing an additional 21,920,074 shares during the period. Amundi lifted its holdings in shares of Banco Bradesco by 20.0% during the first quarter. Amundi now owns 24,583,083 shares of the bank’s stock worth $89,728,000 after buying an additional 4,099,099 shares in the last quarter. Sei Investments Co. raised its stake in shares of Banco Bradesco by 3.4% during the first 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. Finally, Renaissance Technologies LLC raised its position in Banco Bradesco by 103.9% in the first quarter. Renaissance Technologies LLC now owns 12,315,995 shares of the bank’s stock worth $44,953,000 after acquiring an additional 6,276,800 shares during the period.

Banco Bradesco Price Performance

Shares of BBD stock opened at $2.54 on Monday. Banco Bradesco has a 52 week low of $2.44 and a 52 week high of $4.58. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.72 and a current ratio of 1.72. The stock’s fifty day moving average is $3.51 and its 200-day moving average is $3.62. The stock has a market capitalization of $26.92 billion, a PE ratio of 5.53, a PEG ratio of 0.46 and a beta of 0.56.

Banco Bradesco (NYSE:BBD – Get Free Report) last announced its earnings results on Friday, October 23rd. The bank reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. The company had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $7.52 billion. Equities research analysts expect that Banco Bradesco will post 0.49 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, January 11th. Investors of record on Thursday, December 3rd will be given a $0.0035 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, December 3rd. This is a decrease from Banco Bradesco’s previous monthly dividend of $0.0038. Banco Bradesco’s payout ratio is currently 43.48%.

Banco Bradesco Company Profile

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