Banco Bradesco (NYSE:BBD) Downgraded to “Sell” Rating by The Goldman Sachs Group

The Goldman Sachs Group downgraded shares of Banco Bradesco (NYSE:BBD) from a buy rating to a sell rating in a report issued on Wednesday, Marketbeat reports. The firm currently has $2.00 price target on the bank’s stock, down from their prior price target of $2.40.

Other equities research analysts also recently issued reports about the stock. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a report on Monday, January 13th.

Banco Bradesco Trading Down 3.7 %

Shares of BBD stock opened at $2.09 on Wednesday. The stock has a market capitalization of $22.24 billion, a price-to-earnings ratio of 8.04, a PEG ratio of 0.28 and a beta of 0.94. The company’s fifty day simple moving average is $1.99 and its two-hundred day simple moving average is $2.38. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98. 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 released its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. As a group, analysts anticipate that Banco Bradesco will post 0.33 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be issued a $0.0033 dividend. The ex-dividend date is Friday, March 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.88%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the business. Sanctuary Advisors LLC bought a new stake in Banco Bradesco during the second quarter valued at approximately $68,000. Inspire Advisors LLC lifted its holdings in shares of Banco Bradesco by 18.5% during the 3rd quarter. Inspire Advisors LLC now owns 64,816 shares of the bank’s stock worth $172,000 after acquiring an additional 10,096 shares during the last quarter. Net Worth Advisory Group bought a new stake in shares of Banco Bradesco during the 3rd quarter worth $216,000. Blue Trust Inc. grew 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 acquiring an additional 5,623 shares in the last quarter. Finally, Eagle Bay Advisors LLC increased its stake in Banco Bradesco by 110.5% in the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after acquiring an additional 10,500 shares during 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.