Banco Bradesco SA (NYSE:BBD) Stock Has Average Price Target of $4.05 According to Brokerages

Shares of Banco Bradesco SA (NYSE:BBD) have earned an average recommendation of “Hold” from the seven analysts that are presently covering the company, Marketbeat Ratings reports. Six equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have covered the stock in the last year is $4.05.

A number of equities analysts have issued reports on BBD shares. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Thursday, October 29th. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wall Street Zen upgraded Banco Bradesco to a “hold” rating in a research report on Saturday, October 17th. Citigroup cut Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, Itau BBA Securities downgraded Banco Bradesco from an “outperform” rating to a “market perform” rating in a report on Tuesday, October 27th.

Banco Bradesco Stock Up 0.2%

Shares of NYSE:BBD opened at $2.54 on Monday. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of 5.53, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. Banco Bradesco has a 1-year low of $2.44 and a 1-year high of $4.58. The company’s fifty day moving average is $3.51 and its two-hundred day moving average is $3.62. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.72 and a current ratio of 1.72.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, October 23rd. The bank reported $0.12 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Banco Bradesco had a return on equity of 15.06% and a net margin of 12.58%. The business had revenue of $6.32 billion during the quarter, compared to the consensus estimate of $7.52 billion. Equities analysts anticipate that Banco Bradesco will post 0.49 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 3rd will be given a $0.0035 dividend. This is a drop from Banco Bradesco’s previous monthly dividend of $0.0038. This represents a $0.04 annualized dividend and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, December 3rd. Banco Bradesco’s dividend payout ratio is 4.35%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently added to or reduced their stakes in BBD. Russell Investments Group Ltd. grew its stake in shares of Banco Bradesco by 8.3% in the third quarter. Russell Investments Group Ltd. now owns 10,432,609 shares of the bank’s stock worth $36,552,000 after purchasing an additional 803,867 shares in the last quarter. Ritholtz Wealth Management increased its holdings in shares of Banco Bradesco by 80.6% during the third quarter. Ritholtz Wealth Management now owns 20,329 shares of the bank’s stock valued at $72,000 after purchasing an additional 9,071 shares during the period. rebel Financial LLC bought a new stake in shares of Banco Bradesco during the third quarter valued at about $38,000. Kestra Advisory Services LLC bought a new stake in shares of Banco Bradesco during the third quarter valued at about $61,000. Finally, ARGA Investment Management LP raised its stake in shares of Banco Bradesco by 16.3% during the third quarter. ARGA Investment Management LP now owns 82,243,666 shares of the bank’s stock valued at $289,498,000 after purchasing an additional 11,525,758 shares in the last quarter.

Banco Bradesco Company Profile