Banco Bradesco (NYSE:BBD) Price Target Lowered to $2.30 at The Goldman Sachs Group

Banco Bradesco (NYSE:BBD) had its target price decreased by The Goldman Sachs Group from $3.20 to $2.30 in a research report issued on Friday,Benzinga reports. The brokerage presently has a “buy” rating on the bank’s stock. The Goldman Sachs Group’s target price would suggest a potential upside of 22.67% from the company’s current price.

Separately, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Price Performance

Shares of BBD traded down $0.04 on Friday, hitting $1.88. The company’s stock had a trading volume of 31,516,999 shares, compared to its average volume of 47,580,762. The company has a 50 day moving average price of $2.13 and a 200 day moving average price of $2.42. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $3.36. The company has a market capitalization of $19.95 billion, a PE ratio of 7.21, a PEG ratio of 0.32 and a beta of 0.94. 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 announced its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. On average, research analysts anticipate that Banco Bradesco will post 0.33 earnings per share for the current fiscal year.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Franklin Resources Inc. grew its position in shares of Banco Bradesco by 2.6% during the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after buying an additional 1,139,470 shares during the period. State Street Corp grew its holdings in Banco Bradesco by 71.0% during the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock worth $42,715,000 after acquiring an additional 6,551,698 shares during the period. Sei Investments Co. raised its position in shares of Banco Bradesco by 1.9% during the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after acquiring an additional 411,616 shares during the last quarter. Marshall Wace LLP raised its position in shares of Banco Bradesco by 6,437.5% during the 2nd quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after acquiring an additional 7,783,248 shares during the last quarter. Finally, Oaktree Fund Advisors LLC lifted its stake in shares of Banco Bradesco by 1.0% in the 2nd quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after purchasing an additional 35,111 shares during the period.

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.