Banco Bradesco SA (NYSE:BBDO) Stock Has Consensus Price Target of $73.58 According to Analysts

Key Points

• Analysts maintain a Moderate Buy consensus on Banco Bradesco, with 11 buy ratings and two holds among 13 analysts. The average 12-month price target is $73.58, though several firms recently lowered their targets or ratings.
• BBDO shares fell 6.9% to $2.57, near their 52-week low of $2.55, while trading above average volume. The bank reported quarterly earnings of $0.12 per share, $7.75 billion in revenue, a 12.58% net margin and a 15.51% return on equity.
• Banco Bradesco increased its monthly dividend to $0.0035 per share, equivalent to an annualized dividend of approximately $0.04 and a 1.6% yield. The payout ratio is 39.13%.

Shares of Banco Bradesco SA (NYSE:BBDO - Get Free Report) have received an average recommendation of "Moderate Buy" from the thirteen analysts that are presently covering the stock, MarketBeat reports. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating on the company. The average 12-month target price among brokerages that have covered the stock in the last year is $73.58.

Several analysts have recently commented on BBDO shares. Citigroup downgraded Banco Bradesco to a "neutral" rating in a research note on Tuesday. Oppenheimer dropped their price target on Banco Bradesco from $90.00 to $85.00 and set an "outperform" rating on the stock in a research note on Monday, July 27th. Canaccord Genuity Group dropped their price target on Banco Bradesco from $70.00 to $66.00 and set a "buy" rating on the stock in a research note on Thursday, July 30th. Wells Fargo & Company cut their price target on Banco Bradesco from $55.00 to $50.00 and set an "equal weight" rating on the stock in a report on Thursday, July 30th. Finally, Weiss Ratings raised Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th.

Banco Bradesco Trading Down 6.9%

Shares of BBDO stock traded down $0.19 during trading hours on Wednesday, hitting $2.57. 284,161 shares of the company were exchanged, compared to its average volume of 84,562. The company has a 50 day simple moving average of $3.29 and a two-hundred day simple moving average of $3.28. The firm has a market cap of $27.23 billion, a P/E ratio of 5.59 and a beta of 0.48. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. Banco Bradesco has a fifty-two week low of $2.55 and a fifty-two week high of $4.16.

Banco Bradesco (NYSE:BBDO - Get Free Report) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.51%. The business had revenue of $7.75 billion during the quarter.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.0035 per share. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Banco Bradesco's previous monthly dividend of $0.0034. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.6%. Banco Bradesco's payout ratio is currently 39.13%.

Hedge Funds Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in Banco Bradesco during the 2nd quarter valued at $33,000. Park Avenue Securities LLC bought a new position in shares of Banco Bradesco in the third quarter valued at $37,000. Royal Bank of Canada lifted its stake in shares of Banco Bradesco by 307.2% in the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank's stock valued at $67,000 after buying an additional 15,180 shares in the last quarter. Intergy Private Wealth LLC grew its holdings in shares of Banco Bradesco by 44.8% during the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank's stock valued at $63,000 after buying an additional 6,302 shares during the last quarter. Finally, QRG Capital Management Inc. grew its holdings in shares of Banco Bradesco by 49.2% during the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank's stock valued at $64,000 after buying an additional 7,068 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 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil's largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.

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