HSBC Upgrades Banco Bradesco (NYSE:BBD) to Buy

HSBC upgraded shares of Banco Bradesco (NYSE:BBD) from a hold rating to a buy rating in a research note issued to investors on Monday morning, MarketBeat reports. They currently have $2.80 price objective on the bank’s stock.

BBD has been the topic of several other reports. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group reduced their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday, January 10th.

Banco Bradesco Trading Up 3.9 %

Shares of BBD stock opened at $2.01 on Monday. 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 has a fifty-two week low of $1.84 and a fifty-two week high of $3.36. The firm’s 50 day moving average price is $2.10 and its two-hundred day moving average price is $2.41. The stock has a market cap of $21.34 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. On average, analysts anticipate that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be paid a dividend of $0.0031 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.04 dividend on an annualized basis and a yield of 1.86%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors have recently made changes to their positions in the business. Insigneo Advisory Services LLC increased its stake in shares of Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC increased its position in shares of Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after purchasing an additional 4,737 shares during the last quarter. Blue Trust Inc. raised its stake in shares of Banco Bradesco by 99.9% in the 3rd 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. Eagle Bay Advisors LLC lifted its position in shares of Banco Bradesco by 37.0% during the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank’s stock worth $54,000 after purchasing an additional 7,400 shares during the last quarter. Finally, Atria Investments Inc grew its stake in Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after purchasing an additional 8,641 shares in the last quarter.

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.