Jefferies Financial Group Downgrades Banco Bradesco (NYSE:BBD) to Hold

Banco Bradesco (NYSE:BBDGet Free Report) was downgraded by investment analysts at Jefferies Financial Group from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Friday, Marketbeat reports.

BBD has been the topic of several other reports. The Goldman Sachs Group cut their target price on Banco Bradesco from $3.20 to $2.80 and set a “sell” rating on the stock in a report on Thursday. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th.

Read Our Latest Research Report on Banco Bradesco

Banco Bradesco Trading Down 3.5 %

Shares of NYSE BBD opened at $2.73 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco has a 1-year low of $2.34 and a 1-year high of $3.68. The business’s 50 day moving average is $3.31 and its 200-day moving average is $3.14.

Banco Bradesco (NYSE:BBDGet Free Report) last issued its quarterly earnings results on Thursday, November 9th. The bank reported $0.08 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.09 by ($0.01). Banco Bradesco had a net margin of 6.38% and a return on equity of 9.06%. The business had revenue of $10.65 billion during the quarter, compared to the consensus estimate of $6.27 billion. Analysts expect that Banco Bradesco will post 0.36 EPS for the current fiscal year.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBD. Creative Planning increased its holdings in Banco Bradesco by 27.6% during the 2nd quarter. Creative Planning now owns 15,319 shares of the bank’s stock worth $50,000 after purchasing an additional 3,312 shares in the last quarter. Ieq Capital LLC increased its holdings in Banco Bradesco by 31.4% during the 2nd quarter. Ieq Capital LLC now owns 14,329 shares of the bank’s stock worth $50,000 after purchasing an additional 3,422 shares in the last quarter. Integrated Wealth Concepts LLC increased its holdings in Banco Bradesco by 4.8% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 76,357 shares of the bank’s stock worth $218,000 after purchasing an additional 3,476 shares in the last quarter. First Trust Direct Indexing L.P. increased its holdings in Banco Bradesco by 8.6% during the 4th quarter. First Trust Direct Indexing L.P. now owns 45,245 shares of the bank’s stock worth $158,000 after purchasing an additional 3,570 shares in the last quarter. Finally, Captrust Financial Advisors increased its holdings in Banco Bradesco by 21.4% during the 2nd quarter. Captrust Financial Advisors now owns 20,501 shares of the bank’s stock worth $67,000 after purchasing an additional 3,610 shares in the last quarter. 1.84% of the stock is owned by institutional investors.

About Banco Bradesco

(Get Free Report)

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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.

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