Banco Bradesco (NYSE:BBD) Cut to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Banco Bradesco (NYSE:BBD) from a buy rating to a sell rating in a report issued on Wednesday morning, Marketbeat reports. The Goldman Sachs Group currently has $2.00 target price on the bank’s stock, down from their prior target price of $2.40.

Several other equities analysts have also issued reports on BBD. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a research report on Monday, January 13th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $2.09 on Wednesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $2.98. The company has a fifty day moving average of $1.99 and a 200-day moving average of $2.38. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.28 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Equities research analysts expect that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be paid a $0.0033 dividend. The ex-dividend date is Friday, March 7th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.88%. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Blue Trust Inc. raised its holdings in shares of Banco Bradesco by 99.9% during the third 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 in the last quarter. R Squared Ltd bought a new position in Banco Bradesco in the 4th quarter worth $30,000. Traveka Wealth LLC purchased a new stake in shares of Banco Bradesco in the 4th quarter worth about $31,000. Townsquare Capital LLC purchased a new position in Banco Bradesco during the third quarter valued at $37,000. Finally, HighTower Advisors LLC grew its holdings in Banco Bradesco by 27.2% in the fourth quarter. HighTower Advisors LLC now owns 25,317 shares of the bank’s stock worth $48,000 after purchasing an additional 5,421 shares during the period.

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.