Banco Bradesco SA (NYSE:BBD) has been assigned an average recommendation of “Buy” from the eight ratings firms that are covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $12.40.
Several analysts have issued reports on the stock. ValuEngine raised shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a research report on Friday, February 2nd. Zacks Investment Research raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, January 3rd. JPMorgan Chase & Co. raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Monday, January 22nd. Finally, Citigroup raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research report on Thursday, January 18th.
Hedge funds have recently added to or reduced their stakes in the company. Signaturefd LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter worth approximately $109,000. Cutler Investment Counsel LLC acquired a new stake in shares of Banco Bradesco during the third quarter worth approximately $131,000. Empirical Finance LLC acquired a new stake in shares of Banco Bradesco during the third quarter worth approximately $144,000. Quantitative Systematic Strategies LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter worth approximately $151,000. Finally, Premia Global Advisors LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter worth approximately $155,000. 2.80% of the stock is owned by institutional investors and hedge funds.
Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, February 1st. The bank reported $0.25 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. Banco Bradesco had a net margin of 9.87% and a return on equity of 17.44%. The company had revenue of $9.90 billion during the quarter, compared to the consensus estimate of $8.20 billion. research analysts predict that Banco Bradesco will post 0.96 earnings per share for the current fiscal year.
The business also recently declared a special dividend, which will be paid on Wednesday, May 9th. Stockholders of record on Wednesday, April 4th will be given a dividend of $0.0058 per share. The ex-dividend date of this dividend is Tuesday, April 3rd. This is an increase from Banco Bradesco’s previous special dividend of $0.01. Banco Bradesco’s dividend payout ratio (DPR) is presently 6.52%.
Banco Bradesco Company Profile
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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