Banco Bradesco (NYSE:BBD) Stock Rating Lowered by The Goldman Sachs Group

Banco Bradesco (NYSE:BBD - Get Free Report) was downgraded by equities research analysts at The Goldman Sachs Group from a "buy" rating to a "sell" rating in a note issued to investors on Wednesday, MarketBeat reports. They presently have a $2.00 target price on the bank's stock, down from their prior target price of $2.40. The Goldman Sachs Group's price objective points to a potential downside of 7.62% from the company's current price.

BBD has been the subject of a number of other research reports. HSBC raised Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price objective for the company in a research report on Monday, January 13th. JPMorgan Chase & Co. lowered Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th.

Banco Bradesco Stock Up 3.6 %

Shares of BBD traded up $0.08 on Wednesday, reaching $2.17. The stock had a trading volume of 34,866,896 shares, compared to its average volume of 49,203,180. The firm has a market capitalization of $23.04 billion, a price-to-earnings ratio of 8.33, a price-to-earnings-growth ratio of 0.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. The company has a 50-day simple moving average of $2.00 and a 200-day simple moving average of $2.37. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $2.98.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Sell-side analysts predict that Banco Bradesco will post 0.33 EPS for the current year.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently modified their holdings of the business. Blue Trust Inc. increased its holdings in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock worth $30,000 after purchasing an additional 5,623 shares in the last quarter. Townsquare Capital LLC purchased a new position in shares of Banco Bradesco in the 3rd quarter worth $37,000. R Squared Ltd purchased a new position in shares of Banco Bradesco in the 4th quarter worth $30,000. Traveka Wealth LLC purchased a new position in shares of Banco Bradesco in the 4th quarter worth $31,000. Finally, Peapack Gladstone Financial Corp boosted its stake in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock worth $32,000 after buying an additional 6,000 shares during the last quarter.

About Banco Bradesco

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.