Banco Bradesco S.A. (NYSE:BBD) Receives Average Rating of “Hold” from Analysts

Banco Bradesco S.A. (NYSE:BBD – Get Rating) has received an average rating of “Hold” from the nine analysts that are covering the company, Marketbeat.com reports. Five research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year target price among analysts that have updated their coverage on the stock in the last year is $11.93.

A number of equities analysts have commented on BBD shares. Grupo Santander lowered shares of Banco Bradesco from an “outperform” rating to a “neutral” rating in a research report on Thursday, December 8th. Barclays reduced their price target on shares of Banco Bradesco from $3.50 to $3.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 7th. Finally, The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “neutral” rating and reduced their price target for the company from $3.70 to $2.70 in a research report on Thursday, February 16th.

Banco Bradesco Stock Down 5.2 %

NYSE:BBD opened at $2.53 on Tuesday. The firm has a market cap of $26.97 billion, a PE ratio of 7.03, a price-to-earnings-growth ratio of 0.75 and a beta of 0.71. Banco Bradesco has a 12 month low of $2.43 and a 12 month high of $4.32. The company’s 50-day moving average price is $2.70 and its two-hundred day moving average price is $3.10.

Banco Bradesco Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, May 12th. Stockholders of record on Wednesday, April 5th will be given a dividend of $0.0036 per share. The ex-dividend date of this dividend is Tuesday, April 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.73%. Banco Bradesco’s payout ratio is 8.33%.

Hedge Funds Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of the stock. National Bank of Canada FI raised its stake in shares of Banco Bradesco by 23,941.1% during the fourth quarter. National Bank of Canada FI now owns 49,140,000 shares of the bank’s stock worth $141,523,000 after buying an additional 48,935,600 shares during the last quarter. Pendal Group Ltd lifted its stake in Banco Bradesco by 149.5% in the third quarter. Pendal Group Ltd now owns 37,006,789 shares of the bank’s stock valued at $136,185,000 after acquiring an additional 22,176,005 shares during the last quarter. Bank of America Corp DE lifted its stake in Banco Bradesco by 119.1% in the fourth quarter. Bank of America Corp DE now owns 19,050,689 shares of the bank’s stock valued at $54,866,000 after acquiring an additional 10,356,280 shares during the last quarter. Sprucegrove Investment Management Ltd. lifted its stake in Banco Bradesco by 13.6% in the fourth quarter. Sprucegrove Investment Management Ltd. now owns 83,527,415 shares of the bank’s stock valued at $240,559,000 after acquiring an additional 10,028,424 shares during the last quarter. Finally, Macquarie Group Ltd. lifted its stake in Banco Bradesco by 50.9% in the second quarter. Macquarie Group Ltd. now owns 26,042,425 shares of the bank’s stock valued at $84,898,000 after acquiring an additional 8,783,736 shares during the last quarter. 2.36% of the stock is currently owned by institutional investors and hedge funds.

About Banco Bradesco

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Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.