Banco Bradesco (NYSE:BBD) Stock Rating Lowered by JPMorgan Chase & Co.

Banco Bradesco (NYSE:BBD) was downgraded by research analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday,Briefing.com Automated Import reports.

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their price target for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Trading Down 0.4 %

BBD stock opened at $2.38 on Monday. The firm’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $2.53. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The firm had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Analysts predict that Banco Bradesco will post 0.34 EPS for the current year.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently made changes to their positions in the company. Blue Trust Inc. increased its holdings in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares in the last quarter. Townsquare Capital LLC acquired a new position in shares of Banco Bradesco during the third quarter valued at $37,000. Insigneo Advisory Services LLC bought a new position in Banco Bradesco in the second quarter valued at about $43,000. Mayport LLC acquired a new stake in Banco Bradesco in the second quarter worth about $47,000. Finally, SG Americas Securities LLC bought a new position in shares of Banco Bradesco in the 2nd quarter valued at about $49,000.

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.