Banco Bradesco (NYSE:BBD) Rating Increased to Buy at Bank of America

Bank of America upgraded shares of Banco Bradesco (NYSE:BBD - Free Report) from a neutral rating to a buy rating in a research report released on Thursday morning, MarketBeat reports.

Other analysts have also recently issued research reports about the stock. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price for the company in a research note on Monday, January 13th. The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and reduced their target price for the company from $2.40 to $2.00 in a report on Wednesday, February 12th.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock traded up $0.02 on Thursday, hitting $2.72. The company's stock had a trading volume of 61,697,648 shares, compared to its average volume of 33,193,997. The company has a market capitalization of $28.95 billion, a price-to-earnings ratio of 9.07, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.96. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The firm has a fifty day moving average price of $2.24 and a 200-day moving average price of $2.16.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. As a group, sell-side analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be paid a $0.0022 dividend. This represents a dividend yield of 1.08%. The ex-dividend date is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is currently 6.25%.

Institutional Trading of Banco Bradesco

Several large investors have recently bought and sold shares of the business. Simplicity Wealth LLC purchased a new position in Banco Bradesco in the 1st quarter worth approximately $26,000. BSW Wealth Partners acquired a new position in Banco Bradesco during the first quarter worth $29,000. R Squared Ltd acquired a new position in Banco Bradesco during the fourth quarter worth $30,000. Traveka Wealth LLC purchased a new stake in Banco Bradesco in the 4th quarter valued at $31,000. Finally, Peapack Gladstone Financial Corp increased its stake in shares of Banco Bradesco by 54.5% in 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 during the last quarter.

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.