Banco Bradesco SA (NYSE:BBD) Receives Consensus Recommendation of "Moderate Buy" from Analysts

Key Points

• Analysts rate Banco Bradesco “Moderate Buy”: Three of five analysts recommend buying the stock, while two rate it a hold. The consensus 12-month price target is $3.90.
• Shares opened at $4.34, near the company’s 52-week high of $4.58, with a market capitalization of approximately $46.04 billion. Bradesco reported quarterly EPS of $0.12 on revenue of $6.77 billion.
• The bank announced a special dividend of $0.0728 per share, with a stated payout ratio of 7.14%. Several hedge funds also recently initiated positions in the company.

Banco Bradesco SA (NYSE:BBD - Get Free Report) has been given an average rating of "Moderate Buy" by the five analysts that are covering the firm, MarketBeat reports. Two research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1 year price objective among brokers that have updated their coverage on the stock in the last year is $3.90.

A number of equities analysts have issued reports on the company. Weiss Ratings downgraded Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. HSBC cut shares of Banco Bradesco from a "buy" rating to a "hold" rating and set a $3.90 price target for the company. in a research report on Thursday. JPMorgan Chase & Co. raised shares of Banco Bradesco from a "neutral" rating to an "overweight" rating in a research note on Tuesday. Finally, Bradesco Corretora upgraded shares of Banco Bradesco from a "neutral" rating to an "overweight" rating in a report on Tuesday.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $4.34 on Thursday. The firm has a market capitalization of $46.04 billion, a price-to-earnings ratio of 10.35, a PEG ratio of 0.69 and a beta of 0.46. The stock has a fifty day moving average of $3.44 and a 200 day moving average of $3.56. Banco Bradesco has a 52 week low of $2.98 and a 52 week high of $4.58. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm 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 expect that Banco Bradesco will post 0.5 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The business also recently disclosed a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be given a dividend of $0.0728 per share. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco's dividend payout ratio (DPR) is 7.14%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently added to or reduced their stakes in BBD. Global Wealth Strategies & Associates bought a new position in shares of Banco Bradesco during the second quarter valued at $38,000. Diversify Wealth Management LLC bought a new stake in Banco Bradesco during the 1st quarter valued at about $43,000. Wayfinding Financial LLC bought a new stake in Banco Bradesco during the 2nd quarter valued at about $40,000. Tenzing Financial LLC purchased a new position in Banco Bradesco in the fourth quarter worth about $48,000. Finally, Modern Wealth Management LLC bought a new position in shares of Banco Bradesco in the first quarter worth approximately $55,000.

About Banco Bradesco

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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