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

Banco Bradesco (NYSE:BBD) was downgraded by stock analysts at JPMorgan Chase & Co. from an “overweight” rating to a “neutral” rating in a research note issued on Monday,Briefing.com Automated Import reports.

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

Banco Bradesco Trading Down 0.4 %

Banco Bradesco stock opened at $2.38 on Monday. The firm has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.53. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Analysts forecast that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of BBD. XTX Topco Ltd acquired a new position in shares of Banco Bradesco during the third quarter worth $1,590,000. iA Global Asset Management Inc. bought a new stake in shares of Banco Bradesco in the 3rd quarter worth about $404,000. Insigneo Advisory Services LLC raised its stake in shares of Banco Bradesco by 23.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock valued at $59,000 after purchasing an additional 4,260 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of Banco Bradesco by 15.1% during the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after purchasing an additional 6,171,193 shares during the last quarter. Finally, Two Sigma Advisers LP grew its stake in Banco Bradesco by 208.7% in the third quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock worth $44,824,000 after purchasing an additional 11,393,100 shares in 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.