Zacks Investment Research downgraded shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a research report sent to investors on Tuesday.

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. “

A number of other equities analysts have also recently commented on BBD. ValuEngine cut shares of Banco Bradesco from a strong-buy rating to a buy rating in a research report on Tuesday, October 31st. Goldman Sachs Group upgraded shares of Banco Bradesco from a neutral rating to a buy rating and set a $12.40 price objective on the stock in a research report on Monday, September 11th. Two research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The stock has an average rating of Buy and an average target price of $12.20.

Shares of Banco Bradesco (NYSE:BBD) traded up $0.02 during trading hours on Tuesday, reaching $10.73. 6,471,683 shares of the company were exchanged, compared to its average volume of 6,727,557. The stock has a market cap of $63,990.00, a PE ratio of 11.79, a PEG ratio of 0.97 and a beta of 1.72. Banco Bradesco has a one year low of $7.83 and a one year high of $11.86.

The company also recently disclosed a special dividend, which will be paid on Monday, February 12th. Shareholders of record on Thursday, January 4th will be given a $0.0057 dividend. This represents a dividend yield of 29.41%. The ex-dividend date is Wednesday, January 3rd. Banco Bradesco’s payout ratio is 27.47%.

Hedge funds have recently added to or reduced their stakes in the business. Cutler Investment Counsel LLC purchased a new position in shares of Banco Bradesco in the third quarter valued at about $131,000. Empirical Finance LLC purchased a new position in shares of Banco Bradesco in the third quarter valued at about $144,000. Fox Run Management L.L.C. purchased a new position in shares of Banco Bradesco in the third quarter valued at about $183,000. Stifel Financial Corp increased its position in shares of Banco Bradesco by 102.6% in the second quarter. Stifel Financial Corp now owns 21,830 shares of the bank’s stock valued at $186,000 after acquiring an additional 11,057 shares during the period. Finally, QCM Cayman Ltd. purchased a new position in shares of Banco Bradesco in the second quarter valued at about $228,000. Hedge funds and other institutional investors own 2.70% of the company’s stock.

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About Banco Bradesco

Banco Bradesco SA is a commercial bank. The Bank 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. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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