Brokerages Set Banco Bradesco SA (NYSE:BBD) PT at $2.40

Shares of Banco Bradesco SA (NYSE:BBD) have received a consensus rating 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 recommendation, two have assigned a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price objective among brokers 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 Saturday, September 27th.

Banco Bradesco Trading Up 0.2%

Shares of NYSE:BBD opened at $3.18 on Friday. 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 1 year low of $1.84 and a 1 year high of $3.41. The company has a market cap of $33.79 billion, a P/E ratio of 9.07, a PEG ratio of 0.39 and a beta of 0.75. The stock’s fifty day moving average price is $3.06 and its 200-day moving average price is $2.80.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.10. The business had revenue of $5.87 billion during the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. Sell-side analysts expect 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, November 10th. Stockholders of record on Friday, October 3rd will be issued a dividend of $0.0036 per share. This represents a c) annualized dividend and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, October 3rd. Banco Bradesco’s dividend payout ratio is presently 8.57%.

Institutional Trading of Banco Bradesco

Several large investors have recently modified their holdings of the company. Northern Trust Corp lifted its holdings in Banco Bradesco by 14.2% in the first quarter. Northern Trust Corp now owns 4,701,855 shares of the bank’s stock valued at $10,485,000 after acquiring an additional 584,838 shares during the period. Raymond James Financial Inc. grew its stake in shares of Banco Bradesco by 6.9% during the 1st quarter. Raymond James Financial Inc. now owns 1,803,157 shares of the bank’s stock valued at $4,021,000 after purchasing an additional 116,422 shares during the period. Earnest Partners LLC increased its position in shares of Banco Bradesco by 2.5% during the 1st quarter. Earnest Partners LLC now owns 21,864,348 shares of the bank’s stock valued at $48,757,000 after purchasing an additional 528,442 shares during the last quarter. American Century Companies Inc. lifted its stake in shares of Banco Bradesco by 6.4% in the 1st quarter. American Century Companies Inc. now owns 5,865,375 shares of the bank’s stock worth $13,080,000 after purchasing an additional 351,829 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its holdings in shares of Banco Bradesco by 263.5% in 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 during the last quarter.

Banco Bradesco Company Profile

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.