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

Banco Bradesco SA (NYSE:BBD) has been given a consensus recommendation of “Hold” by the five research firms that are presently covering the firm, Marketbeat Ratings reports. One research analyst has rated the stock with a sell recommendation, one has given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have updated their coverage on the stock in the last year is $2.40.

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

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds have recently bought and sold shares of BBD. Coldstream Capital Management Inc. bought a new position in Banco Bradesco during the third quarter worth $109,000. Acuitas Investments LLC acquired a new stake in shares of Banco Bradesco in the 3rd quarter worth approximately $99,000. Turim 21 Investimentos Ltda. bought a new stake in shares of Banco Bradesco in the 3rd quarter worth $223,000. Public Employees Retirement System of Ohio grew its stake in shares of Banco Bradesco by 9.2% in the 3rd quarter. Public Employees Retirement System of Ohio now owns 9,771,278 shares of the bank’s stock worth $33,027,000 after purchasing an additional 823,790 shares during the last quarter. Finally, Millennium Management LLC lifted its holdings in shares of Banco Bradesco by 24.5% during the third quarter. Millennium Management LLC now owns 5,903,734 shares of the bank’s stock valued at $19,955,000 after purchasing an additional 1,162,681 shares during the last quarter.

Banco Bradesco Trading Down 0.1%

NYSE BBD opened at $3.48 on Friday. The company has a market cap of $36.98 billion, a P/E ratio of 9.93, a P/E/G ratio of 0.43 and a beta of 0.76. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.77. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The company has a 50-day moving average of $3.37 and a 200-day moving average of $3.09.

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

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be paid a $0.0035 dividend. This represents a c) annualized dividend and a dividend yield of 1.2%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 3rd. Banco Bradesco’s payout ratio is presently 5.71%.

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.