Banco Bradesco (NYSE:BBD) Stock Rating Upgraded by Wall Street Zen

Key Points

• Wall Street Zen upgraded Banco Bradesco to “hold,” while analyst sentiment remains generally positive: four analysts rate the stock a Buy and two rate it a Hold, producing a consensus “Moderate Buy” rating and a $4.05 price target.
• Banco Bradesco shares opened at $3.97, with a market capitalization of $42.04 billion and a 12-month trading range of $2.98 to $4.58. The bank reported quarterly EPS of $0.12 on $6.77 billion in revenue.
• Several institutional investors recently initiated or increased positions in the stock, including EverSource Wealth Advisors, which raised its holdings by 62.1%.

Banco Bradesco (NYSE:BBD - Get Free Report) was upgraded by Wall Street Zen to a "hold" rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Several other equities research analysts have also recently commented on BBD. JPMorgan Chase & Co. raised Banco Bradesco from a "neutral" rating to an "overweight" rating in a report on Tuesday, October 6th. HSBC lowered Banco Bradesco from a "buy" rating to a "hold" rating and set a $3.90 price target for the company. in a research note on Thursday, October 8th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $4.20 price target on shares of Banco Bradesco in a research note on Friday, October 9th. Bradesco Corretora upgraded Banco Bradesco from a "neutral" rating to an "overweight" rating in a research report on Tuesday, October 6th. Finally, Weiss Ratings raised Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $4.05.

Banco Bradesco Stock Down 1.6%

BBD opened at $3.97 on Friday. The stock's 50 day moving average price is $3.53 and its 200 day moving average price is $3.59. 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 stock has a market cap of $42.04 billion, a P/E ratio of 8.96, a P/E/G ratio of 0.62 and a beta of 0.46. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.58.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. As a group, research analysts predict that Banco Bradesco will post 0.50 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Global Wealth Strategies & Associates acquired a new stake in shares of Banco Bradesco during the 2nd quarter valued at $38,000. Diversify Wealth Management LLC acquired a new position in shares of Banco Bradesco in the 1st quarter worth $43,000. Wayfinding Financial LLC acquired a new position in shares of Banco Bradesco in the 2nd quarter worth $40,000. Modern Wealth Management LLC acquired a new position in shares of Banco Bradesco in the 1st quarter worth $55,000. Finally, EverSource Wealth Advisors LLC raised its position in shares of Banco Bradesco by 62.1% during the first quarter. EverSource Wealth Advisors LLC now owns 15,858 shares of the bank's stock worth $58,000 after purchasing an additional 6,074 shares during the period.

Banco Bradesco Company Profile

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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