Banco Bradesco (NYSE:BBD) Rating Lowered to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of Banco Bradesco (NYSE:BBD) from an overweight rating to a neutral rating in a research report sent to investors on Monday morning, MarketBeat.com reports.

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

Banco Bradesco Price Performance

Shares of BBD stock opened at $2.26 on Monday. The company has a 50 day moving average price of $2.54 and a 200-day moving average price of $2.52. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

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

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.75%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio is 11.54%.

Institutional Trading of Banco Bradesco

Hedge funds have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares in the last quarter. Townsquare Capital LLC bought a new stake in Banco Bradesco during the 3rd quarter worth approximately $37,000. Insigneo Advisory Services LLC bought a new stake in Banco Bradesco during the 2nd quarter worth approximately $43,000. Eagle Bay Advisors LLC lifted its holdings in Banco Bradesco by 110.5% during the third 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 in the last quarter. Finally, Mayport LLC bought a new position in shares of Banco Bradesco in the second quarter worth approximately $47,000.

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.