Banco Bradesco (NYSE:BBD) Lifted to Hold at Zacks Investment Research

Banco Bradesco (NYSE:BBD) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research report issued on Monday, Zacks.com reports.

According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgaged loans, 24 hour banking, health and life insurance, leasing, pension fund management and services for stock market investors. “

Shares of BBD stock opened at $4.34 on Monday. The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 2.02. Banco Bradesco has a twelve month low of $2.68 and a twelve month high of $5.46. The company has a market cap of $42.18 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.55 and a beta of 1.05. The business has a fifty day simple moving average of $4.50 and a 200 day simple moving average of $4.59.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, February 4th. The bank reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.12 by $0.02. Banco Bradesco had a return on equity of 14.39% and a net margin of 15.08%. The business had revenue of $4.93 billion during the quarter. As a group, equities research analysts anticipate that Banco Bradesco will post 0.35 earnings per share for the current fiscal year.

A number of institutional investors have recently bought and sold shares of the business. Sprucegrove Investment Management Ltd. raised its position in Banco Bradesco by 49.5% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 56,144,587 shares of the bank’s stock valued at $295,321,000 after purchasing an additional 18,577,208 shares during the last quarter. BlackRock Inc. raised its position in Banco Bradesco by 21.6% in the fourth quarter. BlackRock Inc. now owns 55,595,775 shares of the bank’s stock valued at $292,432,000 after purchasing an additional 9,859,936 shares during the last quarter. Vontobel Holding Ltd. bought a new position in Banco Bradesco in the fourth quarter valued at about $232,063,000. Baillie Gifford & Co. raised its position in Banco Bradesco by 4.2% in the fourth quarter. Baillie Gifford & Co. now owns 33,157,721 shares of the bank’s stock valued at $174,410,000 after purchasing an additional 1,349,063 shares during the last quarter. Finally, Itau Unibanco Holding S.A. raised its position in Banco Bradesco by 16.6% in the fourth quarter. Itau Unibanco Holding S.A. now owns 25,019,650 shares of the bank’s stock valued at $131,312,000 after purchasing an additional 3,563,562 shares during the last quarter. Hedge funds and other institutional investors own 2.06% of the company’s stock.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and financial services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking; and insurance, pension plans and capitalization bonds. The company offers checking and savings accounts, demand deposits, time deposits, salary, and interbank deposits.

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