Banco Bradesco SA’s (BBD) Buy Rating Reaffirmed at Citigroup Inc.
Banco Bradesco SA (NYSE:BBD)‘s stock had its “buy” rating reissued by investment analysts at Citigroup Inc. in a research note issued on Wednesday.
A number of other brokerages have also issued reports on BBD. Goldman Sachs Group Inc. reiterated a “neutral” rating and set a $9.30 target price on shares of Banco Bradesco SA in a research report on Wednesday, September 21st. Zacks Investment Research downgraded shares of Banco Bradesco SA from a “buy” rating to a “hold” rating in a research note on Thursday, November 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $8.65.
Shares of Banco Bradesco SA (NYSE:BBD) traded up 3.06% during midday trading on Wednesday, hitting $8.76. 10,111,127 shares of the company’s stock were exchanged. The company has a 50-day moving average of $9.52 and a 200-day moving average of $8.55. Banco Bradesco SA has a 52 week low of $3.65 and a 52 week high of $10.49. The firm has a market cap of $48.46 billion, a price-to-earnings ratio of 9.76 and a beta of 1.77.
The company also recently announced a dividend, which will be paid on Tuesday, December 6th. Shareholders of record on Tuesday, December 6th will be paid a $0.005 dividend. The ex-dividend date of this dividend is Friday, December 2nd. Banco Bradesco SA’s payout ratio is presently 7.60%.
ILLEGAL ACTIVITY NOTICE: This report was posted by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are reading this report on another site, it was illegally copied and reposted in violation of U.S. & international copyright & trademark legislation. The legal version of this report can be read at https://www.thecerbatgem.com/2016/11/30/banco-bradesco-sa-bbd-coverage-initiated-at-citigroup-inc.html.
Large investors have recently modified their holdings of the stock. Henderson Group PLC increased its stake in shares of Banco Bradesco SA by 42.3% in the second quarter. Henderson Group PLC now owns 751,354 shares of the company’s stock valued at $5,864,000 after buying an additional 223,384 shares during the last quarter. ClariVest Asset Management LLC increased its stake in shares of Banco Bradesco SA by 20.2% in the second quarter. ClariVest Asset Management LLC now owns 1,095,770 shares of the company’s stock valued at $8,557,000 after buying an additional 184,251 shares during the last quarter. Capital Fund Management S.A. purchased a new stake in shares of Banco Bradesco SA during the second quarter valued at approximately $1,971,000. Candriam Luxembourg S.C.A. increased its stake in shares of Banco Bradesco SA by 10.0% in the second quarter. Candriam Luxembourg S.C.A. now owns 14,300 shares of the company’s stock valued at $112,000 after buying an additional 1,300 shares during the last quarter. Finally, Strs Ohio increased its stake in shares of Banco Bradesco SA by 10.0% in the second quarter. Strs Ohio now owns 369,600 shares of the company’s stock valued at $2,886,000 after buying an additional 33,600 shares during the last quarter. 2.62% of the stock is owned by hedge funds and other institutional investors.
About Banco Bradesco SA
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.
Receive News & Stock Ratings for Banco Bradesco SA Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco SA and related stocks with our FREE daily email newsletter.