Banco Bradesco (NYSE:BBD) Given New $2.30 Price Target 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 note issued to investors on Friday,Benzinga reports. The Goldman Sachs Group currently has a buy rating on the bank’s stock.

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

Banco Bradesco Stock Down 1.6 %

BBD stock opened at $1.88 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The company’s 50 day simple moving average is $2.12 and its 200-day simple moving average is $2.41. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.36. The firm has a market capitalization of $20.01 billion, a PE ratio of 7.23, a P/E/G ratio of 0.32 and a beta of 0.94.

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

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. The ex-dividend date of this dividend is Wednesday, February 5th. This represents a $0.04 annualized dividend and a yield of 1.98%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds have recently made changes to their positions in BBD. Franklin Resources Inc. raised its position in shares of Banco Bradesco by 2.6% in 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 shares of 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 purchasing an additional 6,551,698 shares during the period. Sei Investments Co. increased its position in Banco Bradesco by 1.9% during the 2nd quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock worth $48,788,000 after purchasing an additional 411,616 shares in the last quarter. Marshall Wace LLP raised its holdings in Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after buying an additional 7,783,248 shares during the period. Finally, Oaktree Fund Advisors LLC lifted its position in Banco Bradesco by 1.0% during the second quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock valued at $8,343,000 after buying an additional 35,111 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.