Banco Bradesco (NYSE:BBD) Rating Increased to Buy at HSBC

Banco Bradesco (NYSE:BBD - Get Free Report) was upgraded by equities research analysts at HSBC from a "hold" rating to a "buy" rating in a note issued to investors on Monday, MarketBeat reports. The brokerage currently has a $2.80 target price on the bank's stock. HSBC's price objective suggests a potential upside of 48.54% from the stock's previous close.

BBD has been the topic of several other reports. The Goldman Sachs Group dropped their price objective on Banco Bradesco from $3.20 to $2.30 and set a "buy" rating on the stock in a report on Friday. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a report on Monday, November 25th.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded up $0.01 during trading on Monday, hitting $1.89. 50,087,663 shares of the company's stock were exchanged, compared to its average volume of 52,376,324. The stock has a market capitalization of $20.06 billion, a price-to-earnings ratio of 7.25, a PEG ratio of 0.32 and a beta of 0.94. The business has a 50-day simple moving average of $2.11 and a 200-day simple moving average of $2.41. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $3.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $5.62 billion. On average, research analysts forecast that Banco Bradesco will post 0.33 EPS for the current year.

Institutional Trading of Banco Bradesco

Hedge funds have recently bought and sold shares of the business. Insigneo Advisory Services LLC boosted its stake in Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock worth $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC boosted its position in shares of Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank's stock valued at $123,000 after acquiring an additional 4,737 shares during the last quarter. Blue Trust Inc. boosted its position in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank's stock valued at $30,000 after acquiring an additional 5,623 shares during the last quarter. Eagle Bay Advisors LLC grew its holdings in shares of Banco Bradesco by 37.0% in the fourth quarter. Eagle Bay Advisors LLC now owns 27,400 shares of the bank's stock valued at $54,000 after purchasing an additional 7,400 shares during the period. Finally, Atria Investments Inc increased its position in Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank's stock worth $117,000 after purchasing an additional 8,641 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.