Banco Bradesco (NYSE:BBD) Downgraded by JPMorgan Chase & Co. to “Neutral”

JPMorgan Chase & Co. lowered shares of Banco Bradesco (NYSE:BBD) from an overweight rating to a neutral rating in a research report released on Monday morning, MarketBeat reports.

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Price Performance

Shares of NYSE:BBD opened at $2.35 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65. The firm has a fifty day simple moving average of $2.56 and a two-hundred day simple moving average of $2.53.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. As a group, sell-side analysts predict that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. This represents a $0.04 annualized dividend and a yield of 1.69%. The ex-dividend date is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 11.54%.

Institutional Trading of Banco Bradesco

A number of institutional investors have recently made changes to their positions in BBD. Blue Trust Inc. increased its stake 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 purchasing an additional 5,623 shares in the last quarter. Townsquare Capital LLC acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth approximately $37,000. Insigneo Advisory Services LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter worth about $43,000. Eagle Bay Advisors LLC raised its stake in shares of 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 buying an additional 10,500 shares during the period. Finally, Mayport LLC acquired a new stake in Banco Bradesco in the 2nd quarter valued at $47,000.

Banco Bradesco Company Profile

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.