Shares of Banco Bradesco (NYSE:BBD) have been given an average recommendation of “Buy” by the seven analysts that are presently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and two have given a strong buy rating to the company. The average 1 year target price among brokerages that have covered the stock in the last year is $12.40.
Several research analysts recently issued reports on the stock. ValuEngine upgraded shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. JPMorgan Chase upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Zacks Investment Research upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, January 3rd. Finally, Citigroup upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th.
Large investors have recently made changes to their positions in the stock. Lazard Asset Management LLC grew its position in Banco Bradesco by 3.0% in the fourth quarter. Lazard Asset Management LLC now owns 4,490,972 shares of the bank’s stock worth $45,986,000 after acquiring an additional 128,795 shares in the last quarter. TD Asset Management Inc. grew its position in Banco Bradesco by 24.1% in the third quarter. TD Asset Management Inc. now owns 68,640 shares of the bank’s stock worth $760,000 after acquiring an additional 13,347 shares in the last quarter. Bank of New York Mellon Corp grew its position in Banco Bradesco by 68.7% in the third quarter. Bank of New York Mellon Corp now owns 254,701 shares of the bank’s stock worth $2,820,000 after acquiring an additional 103,699 shares in the last quarter. Jefferies Group LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at about $523,000. Finally, Deutsche Bank AG boosted its position in Banco Bradesco by 120.9% during the fourth quarter. Deutsche Bank AG now owns 2,712,418 shares of the bank’s stock valued at $27,772,000 after buying an additional 1,484,705 shares during the period. Institutional investors own 2.62% of the company’s stock.
Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, February 1st. The bank reported $0.25 earnings per share for the quarter, topping the consensus estimate of $0.22 by $0.03. Banco Bradesco had a net margin of 9.87% and a return on equity of 17.44%. The firm had revenue of $9.90 billion for the quarter, compared to analysts’ expectations of $8.20 billion. research analysts expect that Banco Bradesco will post 0.84 EPS for the current year.
The business also recently announced a special dividend, which will be paid on Wednesday, May 9th. Investors of record on Wednesday, April 4th will be given a $0.0058 dividend. The ex-dividend date of this dividend is Tuesday, April 3rd. This is a positive change from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s payout ratio is 6.74%.
About Banco Bradesco
Banco Bradesco SA provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates in two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.
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