Banco Bradesco SA (NYSE:BBD) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Thursday.

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. “

Separately, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $9.30 price target on shares of Banco Bradesco SA in a report on Wednesday, September 21st. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and two have issued a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $8.65.

Analyst Recommendations for Banco Bradesco SA (NYSE:BBD)

Shares of Banco Bradesco SA (NYSE:BBD) opened at 8.58 on Thursday. The company has a market capitalization of $47.46 billion, a PE ratio of 9.60 and a beta of 1.77. Banco Bradesco SA has a 12 month low of $3.65 and a 12 month high of $10.49. The firm’s 50-day moving average is $9.68 and its 200 day moving average is $8.44.

The firm also recently disclosed a dividend, which will be paid on Thursday, December 8th. Stockholders of record on Monday, November 7th will be issued a dividend of $0.005 per share. The ex-dividend date is Thursday, November 3rd. Banco Bradesco SA’s dividend payout ratio is currently 7.60%.

Several hedge funds and other institutional investors have recently modified their holdings of BBD. Itau Unibanco Holding S.A. acquired a new position in shares of Banco Bradesco SA during the second quarter worth about $39,516,000. Emerald Acquisition Ltd. acquired a new position in shares of Banco Bradesco SA during the second quarter worth about $33,178,000. Horseman Capital Management Ltd acquired a new position in shares of Banco Bradesco SA during the second quarter worth about $31,819,000. Aberdeen Asset Management PLC UK boosted its position in shares of Banco Bradesco SA by 2.1% in the second quarter. Aberdeen Asset Management PLC UK now owns 175,029,960 shares of the company’s stock worth $1,366,984,000 after buying an additional 3,635,973 shares in the last quarter. Finally, BlackRock Group LTD boosted its position in shares of Banco Bradesco SA by 18.5% in the second quarter. BlackRock Group LTD now owns 16,608,040 shares of the company’s stock worth $129,709,000 after buying an additional 2,590,293 shares in the last quarter. Hedge funds and other institutional investors own 2.58% of the company’s stock.

Banco Bradesco SA Company Profile

Banco Bradesco SA (Bradesco) is a commercial bank. The Company offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. The Company operates and manages its business through two segments: the banking segment, and the insurance, pension plans and capitalization bond segment.

5 Day Chart for NYSE:BBD

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