Shares of Banco Bradesco SA (NYSE:BBD) have been given an average recommendation of “Buy” by the six brokerages that are currently covering the company, Marketbeat reports. Two equities research analysts have rated the stock with a hold recommendation, three have given a buy recommendation and one has assigned a strong buy recommendation to the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.30.
BBD has been the topic of several recent analyst reports. BidaskClub downgraded Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a report on Tuesday, July 25th. ValuEngine downgraded Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Zacks Investment Research raised Banco Bradesco SA from a “hold” rating to a “buy” rating and set a $12.00 target price on the stock in a report on Tuesday, April 18th. Finally, Scotiabank raised Banco Bradesco SA from a “sector perform” rating to an “outperform” rating in a report on Wednesday, June 28th.
Banco Bradesco SA (NYSE:BBD) traded up 1.248% during mid-day trading on Friday, reaching $10.145. The company had a trading volume of 8,665,716 shares. Banco Bradesco SA has a 52-week low of $7.15 and a 52-week high of $10.37. The company’s 50 day moving average is $8.77 and its 200 day moving average is $9.14. The stock has a market capitalization of $61.73 billion, a price-to-earnings ratio of 10.793 and a beta of 1.78.
The company also recently disclosed a special dividend, which will be paid on Friday, September 8th. Shareholders of record on Friday, August 4th will be issued a dividend of $0.0058 per share. This represents a yield of 7.47%. The ex-dividend date is Wednesday, August 2nd. Banco Bradesco SA’s dividend payout ratio is 7.95%.
A number of hedge funds and other institutional investors have recently bought and sold shares of BBD. BlackRock Inc. increased its position in Banco Bradesco SA by 6,852.4% in the first quarter. BlackRock Inc. now owns 39,254,732 shares of the bank’s stock valued at $401,969,000 after buying an additional 38,690,111 shares in the last quarter. Fisher Asset Management LLC purchased a new position in Banco Bradesco SA during the second quarter valued at about $114,050,000. Bank of America Corp DE increased its position in Banco Bradesco SA by 67.5% in the first quarter. Bank of America Corp DE now owns 9,578,666 shares of the bank’s stock valued at $98,086,000 after buying an additional 3,860,878 shares in the last quarter. Capital Growth Management LP purchased a new position in Banco Bradesco SA during the first quarter valued at about $35,840,000. Finally, Sei Investments Co. increased its position in Banco Bradesco SA by 104.4% in the second quarter. Sei Investments Co. now owns 5,459,269 shares of the bank’s stock valued at $46,404,000 after buying an additional 2,788,516 shares in the last quarter. 2.94% of the stock is currently owned by hedge funds and other institutional investors.
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About Banco Bradesco SA
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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