Banco Bradesco's (BBDO) "Hold (C+)" Rating Reaffirmed at Weiss Ratings

Key Points

• Banco Bradesco's stock rating has been reaffirmed as "Hold (C+)" by Weiss Ratings, indicating a stable outlook from the ratings agency.
• The stock closed at $2.77 recently, with a twelve-month low of $1.71 and a high of $3.00, reflecting fluctuations in its market performance.
• Institutional investors, including Goldman Sachs, have significantly increased their holdings in Banco Bradesco, with Goldman raising its stake by 54.2% in the first quarter.

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

Banco Bradesco Stock Performance

Banco Bradesco stock traded down $0.03 during mid-day trading on Wednesday, reaching $2.77. The company's stock had a trading volume of 131,119 shares, compared to its average volume of 53,405. The firm has a market cap of $29.48 billion, a price-to-earnings ratio of 7.91 and a beta of 0.82. The business has a 50 day moving average price of $2.70 and a 200-day moving average price of $2.48. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco has a twelve month low of $1.71 and a twelve month high of $3.00.

Banco Bradesco (NYSE:BBDO - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. lifted its holdings in Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank's stock worth $1,073,000 after purchasing an additional 181,299 shares during the period. Kathmere Capital Management LLC lifted its holdings in Banco Bradesco by 121.7% in the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank's stock worth $286,000 after purchasing an additional 57,451 shares during the period. D Orazio & Associates Inc. lifted its holdings in Banco Bradesco by 432.0% in the second quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank's stock worth $182,000 after purchasing an additional 54,085 shares during the period. BSW Wealth Partners lifted its holdings in Banco Bradesco by 29.7% in the first quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after purchasing an additional 7,027 shares during the period. Finally, Aprio Wealth Management LLC acquired a new stake in Banco Bradesco in the first quarter worth about $43,000.

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.

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