Banco Bradesco SA (NYSE:BBD) Stock Has Consensus Price Target of $4.05

Key Points

• Analyst sentiment is neutral: Seven analysts give Banco Bradesco a consensus “Hold” rating—six holds and one buy—with an average 12-month price target of $4.05 versus the stock’s $2.55 opening price.
• Quarterly results fell short of expectations: The bank reported earnings of $0.12 per share, below the $0.13 consensus, while revenue of $6.32 billion missed estimates of $7.52 billion.
• Banco Bradesco increased its dividend: The company declared a monthly dividend of $0.0038 per share, equivalent to approximately $0.05 annually and a 1.8% yield.

Banco Bradesco SA (NYSE:BBD - Get Free Report) has received a consensus recommendation of "Hold" from the seven analysts that are presently covering the company, MarketBeat.com reports. Six analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have issued a report on the stock in the last year is $4.05.

A number of research firms have recently weighed in on BBD. Weiss Ratings raised shares of Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Itau BBA Securities downgraded Banco Bradesco from an "outperform" rating to a "market perform" rating in a report on Tuesday, October 27th. Wall Street Zen upgraded Banco Bradesco to a "hold" rating in a research report on Saturday, October 17th. JPMorgan Chase & Co. cut Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Thursday. Finally, HSBC lowered Banco Bradesco from a "buy" rating to a "hold" rating and set a $3.90 price objective on the stock. in a research note on Thursday, October 8th.

Banco Bradesco Stock Performance

Shares of NYSE BBD opened at $2.55 on Monday. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.72 and a current ratio of 1.72. The company has a market capitalization of $26.97 billion, a PE ratio of 5.54, a price-to-earnings-growth ratio of 0.46 and a beta of 0.56. Banco Bradesco has a 1 year low of $2.54 and a 1 year high of $4.58. The company's fifty day moving average price is $3.58 and its 200 day moving average price is $3.65.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter, missing analysts' consensus estimates of $0.13 by ($0.01). The business had revenue of $6.32 billion during the quarter, compared to analyst estimates of $7.52 billion. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. On average, research analysts predict that Banco Bradesco will post 0.49 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be paid a $0.0038 dividend. This represents a $0.05 annualized dividend and a dividend yield of 1.8%. This is an increase from Banco Bradesco's previous monthly dividend of $0.0037. The ex-dividend date is Thursday, November 5th. Banco Bradesco's dividend payout ratio is presently 43.48%.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Carrhae Capital LLP purchased a new stake in Banco Bradesco during the second quarter valued at about $15,560,000. ABS Direct Equity Fund LLC bought a new stake in shares of Banco Bradesco during the 2nd quarter valued at $1,270,000. Euro Pacific Asset Management LLC boosted its holdings in Banco Bradesco by 77.6% in the first quarter. Euro Pacific Asset Management LLC now owns 1,057,281 shares of the bank's stock worth $3,866,000 after acquiring an additional 462,080 shares in the last quarter. Nykredit A S bought a new position in Banco Bradesco in the 2nd quarter valued at approximately $3,583,000. Finally, Hsbc Holdings PLC raised its holdings in shares of Banco Bradesco by 18.1% during the first quarter. Hsbc Holdings PLC now owns 3,389,610 shares of the bank's stock valued at $12,377,000 after purchasing an additional 519,953 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.