Banco Bradesco (NYSE:BBD) PT Lowered to $3.00 at Barclays

Banco Bradesco (NYSE:BBD – Get Rating) had its target price lowered by Barclays from $3.50 to $3.00 in a note issued to investors on Tuesday, Benzinga reports. The firm presently has an “equal weight” rating on the bank’s stock. Barclays‘s price target suggests a potential upside of 9.09% from the company’s previous close.

Several other equities analysts also recently issued reports on the company. Itau BBA Securities upgraded Banco Bradesco from a “market perform” rating to an “outperform” rating and set a 21.00 price objective for the company in a research report on Wednesday, November 9th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Thursday, November 17th. Bank of America downgraded Banco Bradesco from a “buy” rating to a “neutral” rating in a research report on Wednesday, November 9th. Itaú Unibanco upgraded Banco Bradesco to an “outperform” rating and set a $21.00 price objective for the company in a research report on Wednesday, November 9th. Finally, The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “neutral” rating and lowered their target price for the company from $3.70 to $2.70 in a research note on Thursday, February 16th. Five investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $11.93.

Banco Bradesco Price Performance

Banco Bradesco stock opened at $2.75 on Tuesday. The company has a market capitalization of $29.31 billion, a PE ratio of 7.64, a price-to-earnings-growth ratio of 0.76 and a beta of 0.71. Banco Bradesco has a one year low of $2.43 and a one year high of $4.32. The business has a 50 day simple moving average of $2.72 and a 200 day simple moving average of $3.16.

Institutional Investors Weigh In On Banco Bradesco

A number of institutional investors have recently made changes to their positions in BBD. Advisor Group Holdings Inc. grew its stake in shares of Banco Bradesco by 15.3% during the first quarter. Advisor Group Holdings Inc. now owns 47,036 shares of the bank’s stock worth $325,000 after purchasing an additional 6,254 shares during the period. Bank of Montreal Can grew its stake in shares of Banco Bradesco by 38.4% during the first quarter. Bank of Montreal Can now owns 164,575 shares of the bank’s stock worth $767,000 after purchasing an additional 45,641 shares during the period. Sequoia Financial Advisors LLC grew its stake in shares of Banco Bradesco by 36.4% during the first quarter. Sequoia Financial Advisors LLC now owns 16,506 shares of the bank’s stock worth $77,000 after purchasing an additional 4,407 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Banco Bradesco during the first quarter worth $470,000. Finally, Prudential Financial Inc. acquired a new stake in shares of Banco Bradesco during the first quarter worth $57,000. 2.36% of the stock is owned by institutional investors and hedge funds.

About Banco Bradesco

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Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.