Banco Bradesco (NYSE:BBD) Raised to "Overweight" at JPMorgan Chase & Co.

Key Points

• JPMorgan upgraded Banco Bradesco from “neutral” to “overweight,” while the stock carries a “Moderate Buy” consensus rating from analysts.
• Banco Bradesco shares rose 4.5% to $4.53, approaching their 12-month high of $4.58, with trading volume significantly above average.
• Several major institutional investors increased their positions, including Arrowstreet Capital, Franklin Resources, Bank of America, Amundi and Sei Investments.

Banco Bradesco (NYSE:BBD - Get Free Report) was upgraded by investment analysts at JPMorgan Chase & Co. from a "neutral" rating to an "overweight" rating in a research report issued to clients and investors on Tuesday, Benzinga reports.

Other equities research analysts also recently issued research reports about the company. Weiss Ratings downgraded Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. Bradesco Corretora upgraded Banco Bradesco from a "neutral" rating to an "overweight" rating in a report on Tuesday. Three investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat.com, Banco Bradesco currently has an average rating of "Moderate Buy".

Banco Bradesco Trading Up 4.5%

Shares of BBD traded up $0.20 on Tuesday, reaching $4.53. 74,618,941 shares of the company's stock were exchanged, compared to its average volume of 35,388,980. The business has a 50 day moving average price of $3.41 and a two-hundred day moving average price of $3.55. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.58. The stock has a market capitalization of $47.95 billion, a P/E ratio of 10.75, a price-to-earnings-growth ratio of 0.56 and a beta of 0.46. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. Research analysts anticipate that Banco Bradesco will post 0.5 earnings per share for the current year.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently modified their holdings of BBD. Arrowstreet Capital Limited Partnership raised its holdings in Banco Bradesco by 25.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank's stock worth $273,604,000 after buying an additional 16,908,425 shares during the period. Franklin Resources Inc. increased its position in shares of Banco Bradesco by 2,469.2% during the fourth quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank's stock worth $159,664,000 after acquiring an additional 46,080,856 shares in the last quarter. Bank of America Corp DE increased its position in shares of 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 worth $102,487,000 after acquiring an additional 21,920,074 shares in the last quarter. Amundi raised 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 acquiring an additional 4,099,099 shares during the period. Finally, Sei Investments Co. raised its holdings 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 worth $70,434,000 after acquiring an additional 641,744 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.

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