Banco Bradesco (NYSE:BBD – Get Rating) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday, Zacks.com reports. The brokerage currently has a $4.25 price target on the bank’s stock. Zacks Investment Research‘s price target indicates a potential upside of 17.08% from the stock’s previous close.
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. “
Separately, Barclays initiated coverage on shares of Banco Bradesco in a report on Monday, January 24th. They set an “overweight” rating and a $4.55 target price on the stock.
Banco Bradesco (NYSE:BBD – Get Rating) last issued its earnings results on Tuesday, February 8th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.11. Banco Bradesco had a net margin of 21.20% and a return on equity of 17.91%. The business had revenue of $6.21 billion for the quarter, compared to analysts’ expectations of $5.08 billion. As a group, equities research analysts anticipate that Banco Bradesco will post 0.51 EPS for the current fiscal year.
Hedge funds have recently modified their holdings of the stock. UBS Asset Management Americas Inc. raised its position in shares of Banco Bradesco by 3.4% in the third quarter. UBS Asset Management Americas Inc. now owns 23,851,794 shares of the bank’s stock worth $91,352,000 after buying an additional 791,553 shares in the last quarter. TT International Asset Management LTD purchased a new stake in Banco Bradesco during the third quarter valued at about $58,515,000. Two Sigma Securities LLC raised its position in Banco Bradesco by 2,699.2% during the third quarter. Two Sigma Securities LLC now owns 484,154 shares of the bank’s stock valued at $1,854,000 after purchasing an additional 466,858 shares in the last quarter. qPULA Trading Management LP purchased a new stake in Banco Bradesco during the third quarter valued at about $258,000. Finally, Deprince Race & Zollo Inc. raised its position in Banco Bradesco by 7.8% during the third quarter. Deprince Race & Zollo Inc. now owns 1,098,570 shares of the bank’s stock valued at $4,208,000 after purchasing an additional 79,900 shares in the last quarter. Institutional investors own 2.51% of the company’s stock.
Banco Bradesco Company Profile (Get Rating)
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 Banking and Insurance segments. It provides demand, time, and savings deposits; mutual funds; a range of loans and advances, including overdrafts, credit cards, and loans with repayments in installments; and fund management and treasury, foreign exchange, corporate finance and investment banking, and hedge and working capital financing services.
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