Banco Bradesco (NYSE:BBD – Get Free Report) was upgraded by equities research analysts at HSBC from a “hold” rating to a “buy” rating in a research report issued on Monday, MarketBeat reports. The firm currently has a $2.80 target price on the bank’s stock. HSBC’s price objective indicates a potential upside of 44.70% from the stock’s current price.
Several other research analysts have also commented on BBD. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group dropped their target price on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a report on Friday, January 10th.
View Our Latest Research Report on Banco Bradesco
Banco Bradesco Stock Up 2.4 %
Banco Bradesco (NYSE:BBD – Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping 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 company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Sell-side analysts expect that Banco Bradesco will post 0.33 earnings per share for the current year.
Institutional Trading of Banco Bradesco
Hedge funds and other institutional investors have recently modified their holdings of the business. Blue Trust Inc. boosted its holdings in Banco Bradesco by 99.9% in the third 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 during the last quarter. Townsquare Capital LLC acquired a new position in shares of Banco Bradesco in the 3rd quarter valued at approximately $37,000. Traveka Wealth LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $31,000. Insigneo Advisory Services LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at approximately $43,000. Finally, Eagle Bay Advisors LLC grew its position in shares of Banco Bradesco by 110.5% during the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after buying an additional 10,500 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.
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