Banco Bradesco (NYSE:BBD) lifted to buy at Zacks Investment Research

Banco Bradesco (NYSE:BBD- Get a rating) has been updated by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Friday, Zacks.com reports. The brokerage currently has a $4.00 price target on the bank’s stock. Zacks Investment ResearchThe stock’s price target would indicate a potential upside of 5.82% from the current stock price.

According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgages, 24-hour banking, insurance health and life, financial leasing, pension fund management and services for stock market investors.”

Separately, Barclays began covering Banco Bradesco shares in a research report on Monday, January 24. They issued an “overweight” rating and a price target of $4.55 on the stock.

Shares of Banco Bradesco rose $0.11 on Friday, hitting $3.78. The stock recorded a trading volume of 37,501,158 shares, compared to an average volume of 42,509,602 shares. The company has a 50-day moving average price of $3.88 and a 200-day moving average price of $3.57. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt ratio of 1.51. Banco Bradesco has a 1-year low of $2.95 and a 1-year high of $5.18. The stock has a market capitalization of $40.41 billion, a P/E ratio of 9.63, a P/E/G ratio of 0.42 and a beta of 0.92.

(A d)

Across the country, an equity sector is handing out handsome payouts like clockwork, regardless of how the S&P performs. How do they generate enough cash to pay such ridiculously high dividends?

Banco Bradesco (NYSE:BBD- Get a rating) last released its quarterly earnings data on Tuesday, February 8. The bank reported earnings per share (EPS) of $0.11 for the quarter, meeting analyst consensus estimates of $0.11. Banco Bradesco achieved a net margin of 19.74% and a return on equity of 17.91%. The company posted revenue of $6.21 billion for the quarter, versus a consensus estimate of $5.08 billion. On average, analysts expect Banco Bradesco to post 0.52 earnings per share for the current fiscal year.

Major investors have recently increased or reduced their stakes in the company. 44 Wealth Management LLC acquired a new stake in Banco Bradesco during Q4 valued at approximately $35,000. Clarus Group Inc. acquired a new stake in Banco Bradesco during the 4th quarter valued at approximately $35,000. Creative Planning acquired a new stake in Banco Bradesco during Q3 worth approximately $40,000. Tudor Investment Corp Et Al acquired a new stake in Banco Bradesco during Q3 valued at approximately $40,000. Finally, Dubuque Bank & Trust Co. acquired a new stake in Banco Bradesco during Q4 valued at approximately $40,000. 2.25% of the shares are currently held by institutional investors.

About Banco Bradesco (Get a rating)

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, businesses and companies in Brazil and abroad. The Company operates through two segments, Banking and Insurance. It provides current, savings, click and salary accounts; real estate credit, car financing, salary credit, mortgage loan, microcredit, leasing, personal and installment credit; debit and business cards; financial and security services; consortium products; automobile, personal accident, dental, travel and life insurance; investment products; retirement products; real estate and vehicle auctions; cash management and foreign trade and foreign exchange services; capitalization bonds; and online banking.

Featured articles

Get a Free Copy of Zacks’ Research Report on Banco Bradesco (BBD)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

This instant alert was powered by MarketBeat’s narrative science technology and financial data to provide readers with the fastest and most accurate reports. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send questions or comments about this story to [email protected]

Should you invest $1,000 in Banco Bradesco right now?

Before you consider Banco Bradesco, you’ll want to hear this.

MarketBeat tracks Wall Street’s top-rated, top-performing research analysts daily and the stocks they recommend to their clients. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the market takes off…and Banco Bradesco wasn’t on the list.

While Banco Bradesco currently has a “Hold” rating among analysts, top-rated analysts believe these five stocks are better buys.

See the 5 actions here

Rosalie M. Dehner