Banco Bradesco (NYSE:BBD) Raised to Buy at Citigroup

Banco Bradesco (NYSE:BBD - Get Free Report) was upgraded by investment analysts at Citigroup from a "hold" rating to a "buy" rating in a research note issued to investors on Wednesday, MarketBeat Ratings reports.

A number of other brokerages have also issued reports on BBD. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and decreased their price objective for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average price target of $2.40.

Banco Bradesco Stock Down 0.3%

Shares of NYSE BBD opened at $2.86 on Wednesday. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.96. The firm has a 50-day simple moving average of $2.41 and a two-hundred day simple moving average of $2.19. The company has a market cap of $30.44 billion, a P/E ratio of 9.53, a PEG ratio of 0.32 and a beta of 0.65. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The firm had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. Research analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current year.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently made changes to their positions in BBD. Samalin Investment Counsel LLC raised its holdings in Banco Bradesco by 8.8% in the first quarter. Samalin Investment Counsel LLC now owns 49,500 shares of the bank's stock worth $110,000 after purchasing an additional 4,000 shares in the last quarter. Traveka Wealth LLC grew its position in shares of Banco Bradesco by 29.9% in the 1st quarter. Traveka Wealth LLC now owns 21,333 shares of the bank's stock worth $48,000 after buying an additional 4,910 shares during the last quarter. HighTower Advisors LLC grew its position in shares of Banco Bradesco by 27.2% in the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after buying an additional 5,421 shares during the last quarter. Peapack Gladstone Financial Corp raised its stake in shares of Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after acquiring an additional 6,000 shares in the last quarter. Finally, Inspire Advisors LLC lifted its position in Banco Bradesco by 14.5% during the first quarter. Inspire Advisors LLC now owns 67,833 shares of the bank's stock valued at $151,000 after acquiring an additional 8,589 shares during the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.