Banco Bradesco (NYSE:BBD) Receives Hold (C+) Rating from Weiss Ratings

Key Points

• Banco Bradesco has received a "hold (C+)" rating from Weiss Ratings, indicating a stable outlook for the stock.
• As of Wednesday, Banco Bradesco's shares increased by 1.9%, trading at $3.18, with significant trading volume exceeding average levels.
• The bank reported earnings of $0.10 per share for the last quarter, aligning with analyst expectations, and had a revenue of $5.87 billion.

Banco Bradesco (NYSE:BBD - Get Free Report)'s stock had its "hold (c+)" rating reaffirmed by investment analysts at Weiss Ratings in a research report issued on Wednesday,Weiss Ratings reports.

Banco Bradesco Stock Up 1.9%

Shares of BBD stock traded up $0.06 during trading hours on Wednesday, reaching $3.18. The company had a trading volume of 69,316,648 shares, compared to its average volume of 42,721,980. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.41. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The business has a fifty day simple moving average of $3.08 and a 200-day simple moving average of $2.81. The company has a market cap of $33.84 billion, a price-to-earnings ratio of 9.09, a price-to-earnings-growth ratio of 0.39 and a beta of 0.75.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. The company had revenue of $5.87 billion for the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. On average, research analysts expect that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Institutional Trading of Banco Bradesco

A number of large investors have recently bought and sold shares of BBD. Orbis Allan Gray Ltd bought a new position in shares of Banco Bradesco in the second quarter worth $250,398,000. ARGA Investment Management LP boosted its holdings in shares of Banco Bradesco by 53.0% in the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after acquiring an additional 43,884,334 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after acquiring an additional 17,853,712 shares during the period. Fisher Asset Management LLC boosted its holdings in shares of Banco Bradesco by 18.4% in the second quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank's stock worth $272,225,000 after acquiring an additional 13,682,255 shares during the period. Finally, Acadian Asset Management LLC bought a new position in shares of Banco Bradesco in the second quarter worth $41,113,000.

About Banco Bradesco

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.

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