Banco Bradesco (BBD) Upgraded at Zacks Investment Research
Zacks Investment Research upgraded shares of Banco Bradesco (NYSE:BBD) from a hold rating to a buy rating in a research note published on Monday morning. They currently have $11.00 price objective on the bank’s stock.
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. “
BBD has been the subject of several other reports. ValuEngine upgraded shares of Banco Bradesco from a sell rating to a hold rating in a research note on Monday, October 8th. Morgan Stanley upgraded shares of Banco Bradesco from an underweight rating to an equal weight rating in a research note on Friday, November 9th. Finally, Santander upgraded shares of Banco Bradesco from a hold rating to a buy rating in a research note on Friday, July 20th. Two research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Banco Bradesco has an average rating of Buy and a consensus price target of $11.00.
The firm also recently announced a monthly dividend, which will be paid on Wednesday, January 9th. Investors of record on Wednesday, December 5th will be given a dividend of $0.004 per share. The ex-dividend date is Tuesday, December 4th. This represents a $0.05 dividend on an annualized basis and a yield of 0.52%. Banco Bradesco’s dividend payout ratio is presently 5.62%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Athena Capital Advisors LLC acquired a new position in Banco Bradesco during the third quarter valued at $101,000. Flow Traders U.S. LLC acquired a new position in Banco Bradesco during the third quarter valued at $113,000. Dynamic Technology Lab Private Ltd acquired a new position in Banco Bradesco during the third quarter valued at $117,000. HRT Financial LLC acquired a new position in Banco Bradesco during the second quarter valued at $132,000. Finally, Signaturefd LLC lifted its position in Banco Bradesco by 50.7% during the second quarter. Signaturefd LLC now owns 20,573 shares of the bank’s stock valued at $141,000 after purchasing an additional 6,925 shares during the period. Institutional investors own 3.15% of the company’s stock.
About Banco Bradesco
Banco Bradesco SA provides banking and financial products and services to individuals, enterprises, and corporations and institutions. It operates through two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. The company accepts checking and savings accounts, time deposits, interbank deposits from financial institutions, and accounts for salary purposes.
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