Banco Bradesco (NYSE:BBD) Upgraded at HSBC

HSBC upgraded shares of Banco Bradesco (NYSE:BBD) from a hold rating to a buy rating in a research note issued to investors on Monday, MarketBeat reports. HSBC currently has $2.80 target price on the bank’s stock.

Other analysts have also recently issued research reports about the company. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group decreased their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday, January 10th.

Banco Bradesco Stock Up 3.9 %

Shares of NYSE BBD opened at $2.01 on Monday. The firm’s 50-day moving average is $2.10 and its two-hundred day moving average is $2.41. The company has a market capitalization of $21.34 billion, a PE ratio of 7.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.36. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Equities analysts anticipate that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be given a $0.0031 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently added to or reduced their stakes in the business. Blue Trust Inc. increased its stake in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares during the last quarter. Traveka Wealth LLC purchased a new stake in Banco Bradesco in the fourth quarter valued at approximately $31,000. Townsquare Capital LLC acquired a new position in Banco Bradesco during the third quarter worth approximately $37,000. Insigneo Advisory Services LLC purchased a new position in Banco Bradesco during the second quarter worth approximately $43,000. Finally, Eagle Bay Advisors LLC boosted its holdings in shares of Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after purchasing an additional 10,500 shares during 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.