Banco Bradesco (NYSE:BBD) Stock Rating Updated by Zacks Investment Research
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, mortgages, 24-hour banking, insurance health and life, leasing, pension fund management and services for stock market investors.”
Elsewhere, Barclays began covering Banco Bradesco in a report on Monday. They set an “overweight” rating and a target price of $5.00 on the stock.
NYSE BBD rose $0.05 on Monday, hitting $3.87. The stock had a trading volume of 70,467,316 shares, compared to an average volume of 42,182,766. The company has a leverage ratio of 1.34, a current ratio of 1.46 and a quick ratio of 1. ,46. The company has a fifty-day moving average of $3.59 and a two-hundred-day moving average of $3.94. Banco Bradesco has a 1-year low of $3.25 and a 1-year high of $5.70. The company has a market cap of $37.61 billion, a P/E ratio of 8.60, a price-to-earnings growth ratio of 0.26, and a beta of 0.99.
Banco Bradesco Inc (NYSE:BBD) last released quarterly earnings data on Thursday, November 4. The bank reported EPS of $0.12 for the quarter, missing analyst consensus estimates of $0.13 per ($0.01). Banco Bradesco achieved a net margin of 25.17% and a return on equity of 18.08%. The company posted revenue of $3.49 billion in the quarter, versus analyst estimates of $5.04 billion. Research analysts predict that Banco Bradesco will post an EPS of 0.48 for the current financial year.
Large investors have recently increased or reduced their stakes in the stock. Sprucegrove Investment Management Ltd. increased its position in Banco Bradesco by 8.7% in the third quarter. Sprucegrove Investment Management Ltd. now owns 74,819,198 shares of the bank valued at $286,558,000 after purchasing an additional 5,961,100 shares in the last quarter. BlackRock Inc. increased its position in Banco Bradesco by 39.5% in the second quarter. BlackRock Inc. now owns 74,535,501 shares of the bank valued at $382,367,000 after buying an additional 21,109,217 shares in the last quarter. Lazard Asset Management LLC increased its position in Banco Bradesco by 24.1% in the second quarter. Lazard Asset Management LLC now owns 61,412,725 shares of the bank valued at $315,046,000 after purchasing an additional 11,941,379 shares in the last quarter. Franklin Resources Inc. increased its position in Banco Bradesco by 3.6% in the third quarter. Franklin Resources Inc. now owns 40,739,007 shares of the bank valued at $156,032,000 after buying an additional 1,405,976 shares in the last quarter. Finally, Baillie Gifford & Co. increased its position in Banco Bradesco by 0.3% in the fourth quarter. Baillie Gifford & Co. now owns 40,385,126 shares of the bank valued at $138,117,000 after purchasing an additional 117,454 shares in the last quarter. 2.54% of the shares are currently held by institutional investors and hedge funds.
About Banco Bradesco
Banco Bradesco SA provides financial and insurance services. It operates through Banking and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers automobile, health, life, accident and property insurance, and pension plans as well as capitalization bonds.
Further Reading: Terms to Better Understand Call Options
For more information on Zacks Investment Research’s research offerings, visit Zacks.com
This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]
Should you invest $1,000 in Banco Bradesco right now?
Before you consider Banco Bradesco, you’ll want to hear this.
MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Banco Bradesco wasn’t on the list.
While Banco Bradesco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.
See the 5 actions here