Brokerages Set Banco Bradesco SA (NYSE:BBD) PT at $2.40

Banco Bradesco SA (NYSE:BBD) has received a consensus recommendation of “Hold” from the six research firms that are currently covering the stock, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, two have given a hold recommendation and three have given a buy recommendation to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $2.40.

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BBD. Aprio Wealth Management LLC acquired a new position in shares of Banco Bradesco during the 1st quarter valued at $25,000. GAMMA Investing LLC raised its holdings in Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after buying an additional 3,864 shares during the last quarter. Dorsey & Whitney Trust CO LLC acquired a new position in Banco Bradesco during the first quarter worth $26,000. EverSource Wealth Advisors LLC raised its holdings in Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after buying an additional 4,353 shares during the last quarter. Finally, BSW Wealth Partners acquired a new position in Banco Bradesco during the first quarter worth $29,000.

Banco Bradesco Trading Down 0.1%

NYSE:BBD opened at $3.39 on Tuesday. The firm’s fifty day moving average is $3.22 and its 200-day moving average is $2.95. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.55. The firm has a market cap of $36.02 billion, a P/E ratio of 9.67, a P/E/G ratio of 0.43 and a beta of 0.75.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 EPS for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. The firm had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $34.75 billion. Equities analysts expect that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, December 8th. Investors of record on Wednesday, November 5th will be given a dividend of $0.0035 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Wednesday, November 5th. Banco Bradesco’s payout ratio is presently 5.71%.

About Banco Bradesco

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.