Banco Bradesco (NYSE:BBD) Earns "Neutral" Rating from Citigroup

Key Points

• Citigroup reaffirmed its “neutral” rating on Banco Bradesco, while the broader analyst consensus remains “Moderate Buy,” with an average price target of $4.05.
• Banco Bradesco shares fell 0.2% to $2.92, near the lower end of their 52-week range. The stock trades at a P/E ratio of 6.36 and has a market capitalization of approximately $31 billion.
• The bank’s latest quarterly results fell short of expectations, reporting $0.12 in earnings per share versus a $0.13 consensus estimate and $6.32 billion in revenue versus $7.52 billion expected.

Banco Bradesco (NYSE:BBD - Get Free Report)'s stock had its "neutral" rating reaffirmed by equities research analysts at Citigroup in a note issued to investors on Tuesday, Benzinga reports.

A number of other analysts have also issued reports on the company. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $4.20 target price on shares of Banco Bradesco in a research report on Friday, October 9th. JPMorgan Chase & Co. raised Banco Bradesco from a "neutral" rating to an "overweight" rating in a report on Tuesday, October 6th. Wall Street Zen raised Banco Bradesco to a "hold" rating in a report on Saturday, October 17th. Bradesco Corretora upgraded Banco Bradesco from a "neutral" rating to an "overweight" rating in a research note on Tuesday, October 6th. Finally, Weiss Ratings upgraded Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $4.05.

Banco Bradesco Stock Down 0.2%

Banco Bradesco stock traded down $0.01 during midday trading on Tuesday, hitting $2.92. 82,273,717 shares of the stock were exchanged, compared to its average volume of 37,423,816. Banco Bradesco has a 1 year low of $2.74 and a 1 year high of $4.58. The firm has a market cap of $31.00 billion, a P/E ratio of 6.36, a P/E/G ratio of 0.72 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a 50 day moving average price of $3.61 and a two-hundred day moving average price of $3.67.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $7.52 billion. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%. On average, sell-side analysts predict that Banco Bradesco will post 0.50 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BBD. Tidal Investments LLC boosted its position in Banco Bradesco by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 160,721 shares of the bank's stock worth $558,000 after acquiring an additional 2,990 shares during the period. Compound Planning Inc. boosted its holdings in shares of Banco Bradesco by 2.1% during the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank's stock worth $579,000 after purchasing an additional 3,247 shares during the period. Cetera Investment Advisers grew its position in Banco Bradesco by 16.7% during the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank's stock valued at $90,000 after purchasing an additional 3,519 shares in the last quarter. Plan A Wealth LLC grew its position in Banco Bradesco by 22.1% during the third quarter. Plan A Wealth LLC now owns 23,327 shares of the bank's stock valued at $82,000 after purchasing an additional 4,224 shares in the last quarter. Finally, Inspire Investing LLC grew its position in Banco Bradesco by 16.9% during the third quarter. Inspire Investing LLC now owns 30,565 shares of the bank's stock valued at $108,000 after purchasing an additional 4,408 shares in the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.

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