Zacks Investment Research cut shares of Banco Bradesco (NYSE:BBD) from a buy rating to a hold rating in a report published on Monday morning, Zacks.com reports.

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. “

Several other research analysts also recently commented on BBD. ValuEngine downgraded shares of Intersect ENT from a buy rating to a hold rating in a report on Monday, June 3rd. Goldman Sachs Group downgraded shares of SUMCO CORP/ADR from a buy rating to a neutral rating in a report on Monday, June 10th. Three equities research analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of Hold and an average target price of $10.29.

Shares of NYSE:BBD opened at $10.25 on Monday. The firm has a fifty day moving average price of $9.52. The company has a debt-to-equity ratio of 0.79, a quick ratio of 1.10 and a current ratio of 1.10. Banco Bradesco has a one year low of $5.41 and a one year high of $10.55. The company has a market cap of $100.15 billion, a P/E ratio of 13.38, a price-to-earnings-growth ratio of 0.59 and a beta of 0.92.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, April 25th. The bank reported $0.21 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.18 by $0.03. Banco Bradesco had a net margin of 15.96% and a return on equity of 18.75%. The firm had revenue of $9.26 billion during the quarter, compared to the consensus estimate of $6.51 billion. As a group, sell-side analysts forecast that Banco Bradesco will post 0.78 earnings per share for the current fiscal year.

The business also recently disclosed a dividend, which will be paid on Monday, July 22nd. Stockholders of record on Tuesday, July 2nd will be given a dividend of $0.037 per share. The ex-dividend date is Monday, July 1st. This is a boost from Banco Bradesco’s previous dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is 5.63%.

Several institutional investors have recently bought and sold shares of BBD. Bank of New York Mellon Corp raised its stake in shares of Banco Bradesco by 6.6% in the 4th quarter. Bank of New York Mellon Corp now owns 66,279 shares of the bank’s stock worth $655,000 after buying an additional 4,081 shares in the last quarter. Advisor Group Inc. raised its stake in shares of Banco Bradesco by 125.8% in the 4th quarter. Advisor Group Inc. now owns 8,350 shares of the bank’s stock worth $83,000 after buying an additional 4,652 shares in the last quarter. GSA Capital Partners LLP bought a new stake in shares of Banco Bradesco in the 4th quarter worth $187,000. Northern Trust Corp raised its stake in shares of Banco Bradesco by 3.0% in the 4th quarter. Northern Trust Corp now owns 4,116,742 shares of the bank’s stock worth $40,715,000 after buying an additional 120,941 shares in the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Banco Bradesco in the 4th quarter worth $1,860,000. Hedge funds and other institutional investors own 2.06% of the company’s stock.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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