Zacks Investment Research Lowers Banco Bradesco (NYSE:BBD) to Sell

Zacks Investment Research cut shares of Banco Bradesco (NYSE:BBD) from a hold rating to a sell rating in a research note released on Friday morning, 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. “

Other equities research analysts have also issued research reports about the company. ValuEngine lowered Banco Bradesco from a buy rating to a hold rating in a research note on Wednesday, July 31st. Goldman Sachs Group started coverage on Banco Bradesco in a research note on Monday, June 10th. They issued a sell rating and a $9.58 target price on the stock. Four analysts have rated the stock with a sell rating and two have given a hold rating to the company’s stock. The company has a consensus rating of Sell and a consensus target price of $10.29.

BBD stock traded down $0.23 on Friday, reaching $8.54. The company had a trading volume of 303,437 shares, compared to its average volume of 13,175,179. Banco Bradesco has a 1 year low of $5.41 and a 1 year high of $10.55. The company has a current ratio of 1.15, a quick ratio of 1.10 and a debt-to-equity ratio of 0.79. The firm’s fifty day moving average price is $9.79. The company has a market capitalization of $84.53 billion, a P/E ratio of 12.08, a P/E/G ratio of 0.50 and a beta of 0.93.

The business also recently announced a dividend, which was paid on Monday, July 22nd. Investors of record on Tuesday, July 2nd were paid a $0.037 dividend. The ex-dividend date was Monday, July 1st. This is a positive change from Banco Bradesco’s previous dividend of $0.01. Banco Bradesco’s dividend payout ratio is presently 5.63%.

Hedge funds have recently bought and sold shares of the stock. Icon Wealth Partners LLC purchased a new stake in Banco Bradesco in the 1st quarter valued at approximately $34,000. Parallel Advisors LLC raised its holdings in Banco Bradesco by 293.1% in the 1st quarter. Parallel Advisors LLC now owns 3,286 shares of the bank’s stock valued at $36,000 after acquiring an additional 2,450 shares during the last quarter. Exane Derivatives acquired a new position in Banco Bradesco in the 2nd quarter valued at $43,000. Lindbrook Capital LLC raised its holdings in Banco Bradesco by 28.1% in the 2nd quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock valued at $62,000 after acquiring an additional 1,393 shares during the last quarter. Finally, Shine Investment Advisory Services Inc. raised its holdings in Banco Bradesco by 20.0% in the 2nd quarter. Shine Investment Advisory Services Inc. now owns 7,244 shares of the bank’s stock valued at $71,000 after acquiring an additional 1,207 shares during the last quarter. 2.11% of the stock is currently owned by hedge funds and other institutional investors.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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