Banco Bradesco SA (NYSE:BBD) Given Consensus Recommendation of “Hold” by Analysts

Banco Bradesco SA (NYSE:BBD) has received a consensus recommendation of “Hold” from the six ratings firms that are currently covering the company, MarketBeat Ratings reports. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and three have assigned a buy rating to the company. The average 12 month price target among brokerages that have covered the stock in the last year is $2.40.

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Banco Bradesco in a report on Wednesday, October 8th.

Banco Bradesco Stock Up 1.9%

BBD stock opened at $3.45 on Tuesday. The firm’s fifty day simple moving average is $3.23 and its 200-day simple moving average is $2.96. The company has a market capitalization of $36.66 billion, a P/E ratio of 9.84, a price-to-earnings-growth ratio of 0.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.55.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $11.14 billion during the quarter, compared to analysts’ expectations of $34.75 billion. Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. As a group, equities research analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, December 8th. Investors of record on Wednesday, November 5th will be issued a dividend of $0.0035 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a c) dividend on an annualized basis and a yield of 1.2%. Banco Bradesco’s dividend payout ratio is 5.71%.

Institutional Trading of Banco Bradesco

A number of hedge funds have recently added to or reduced their stakes in BBD. Sequoia Financial Advisors LLC boosted its holdings in Banco Bradesco by 263.5% during the first quarter. Sequoia Financial Advisors LLC now owns 49,906 shares of the bank’s stock worth $111,000 after buying an additional 36,177 shares in the last quarter. BSW Wealth Partners purchased a new stake in Banco Bradesco during the first quarter worth $29,000. Traveka Wealth LLC boosted its holdings in Banco Bradesco by 29.9% during the first quarter. Traveka Wealth LLC now owns 21,333 shares of the bank’s stock worth $48,000 after buying an additional 4,910 shares in the last quarter. Envestnet Asset Management Inc. boosted its holdings in Banco Bradesco by 7.5% during the first quarter. Envestnet Asset Management Inc. now owns 791,930 shares of the bank’s stock worth $1,766,000 after buying an additional 55,304 shares in the last quarter. Finally, ARGA Investment Management LP lifted its holdings in Banco Bradesco by 53.0% during the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank’s stock valued at $282,595,000 after purchasing an additional 43,884,334 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.