The Goldman Sachs Group Cuts Banco Bradesco (NYSE:BBD) Price Target to $2.30

Banco Bradesco (NYSE:BBD) had its price objective cut by The Goldman Sachs Group from $3.20 to $2.30 in a research report report published on Friday,Benzinga reports. They currently have a buy rating on the bank’s stock.

Separately, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Trading Down 1.6 %

BBD stock opened at $1.88 on Friday. Banco Bradesco has a one year low of $1.84 and a one year high of $3.36. The stock has a market cap of $20.01 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a fifty day moving average price of $2.12 and a two-hundred day moving average price of $2.41. 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 announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Equities analysts anticipate that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Institutional Trading of Banco Bradesco

Institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Banco Bradesco by 2.6% during the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after purchasing an additional 1,139,470 shares during the period. State Street Corp boosted its position in shares of Banco Bradesco by 71.0% during the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock worth $42,715,000 after acquiring an additional 6,551,698 shares in the last quarter. Sei Investments Co. increased its stake in Banco Bradesco by 1.9% in the second quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock valued at $48,788,000 after acquiring an additional 411,616 shares during the last quarter. Marshall Wace LLP raised its position in Banco Bradesco by 6,437.5% during the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after purchasing an additional 7,783,248 shares in the last quarter. Finally, Oaktree Fund Advisors LLC lifted its stake in Banco Bradesco by 1.0% during the second quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock worth $8,343,000 after purchasing an additional 35,111 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.