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

Banco Bradesco (NYSE:BBD - Get Free Report) had its price target cut by The Goldman Sachs Group from $3.20 to $2.30 in a note issued to investors on Friday,Benzinga reports. The firm presently has a "buy" rating on the bank's stock. The Goldman Sachs Group's target price indicates a potential upside of 22.34% from the stock's previous close.

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

Banco Bradesco Stock Performance

NYSE BBD traded down $0.03 during trading hours on Friday, hitting $1.88. 59,822,484 shares of the stock were exchanged, compared to its average volume of 52,757,727. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The company 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. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.36. The stock has a 50-day moving average of $2.12 and a 200 day moving average of $2.41.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 the consensus estimate of $5.62 billion. As a group, equities research analysts forecast that Banco Bradesco will post 0.33 earnings per share for the current year.

Institutional Trading of Banco Bradesco

Several large investors have recently bought and sold shares of the company. Blue Trust Inc. grew its holdings in 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 buying an additional 5,623 shares during the last quarter. Townsquare Capital LLC acquired a new stake in shares of Banco Bradesco during the third quarter valued at $37,000. Insigneo Advisory Services LLC acquired a new stake in shares of Banco Bradesco during the second quarter valued at $43,000. Eagle Bay Advisors LLC increased its position in Banco Bradesco by 110.5% during the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank's stock worth $54,000 after purchasing an additional 10,500 shares in the last quarter. Finally, First Affirmative Financial Network acquired a new position in Banco Bradesco in the 3rd quarter valued at about $66,000.

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.