Banco Bradesco (NYSE:BBD) Upgraded by Morgan Stanley to Overweight

Banco Bradesco (NYSE:BBD) was upgraded by analysts at Morgan Stanley from an “equal weight” rating to an “overweight” rating in a research note issued to investors on Wednesday, August 7th, Marketbeat Ratings reports.

A number of other brokerages have also recently issued reports on BBD. Goldman Sachs Group assumed coverage on shares of Banco Bradesco in a report on Monday, June 10th. They issued a “sell” rating and a $9.58 price objective for the company. ValuEngine lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Wednesday, July 31st. Finally, Zacks Investment Research lowered shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $10.29.

Shares of NYSE:BBD opened at $8.25 on Wednesday. The stock has a market cap of $82.60 billion, a price-to-earnings ratio of 11.62, a PEG ratio of 0.49 and a beta of 0.93. Banco Bradesco has a 12 month low of $5.41 and a 12 month high of $10.55. The stock’s 50 day moving average price is $9.55 and its 200 day moving average price is $9.97. The company has a debt-to-equity ratio of 0.79, a current ratio of 1.15 and a quick ratio of 1.10.

Institutional investors have recently modified their holdings of the business. Icon Wealth Partners LLC bought a new stake in Banco Bradesco during the first quarter worth about $34,000. Parallel Advisors LLC raised its holdings in Banco Bradesco by 293.1% in the first quarter. Parallel Advisors LLC now owns 3,286 shares of the bank’s stock worth $36,000 after purchasing an additional 2,450 shares during the period. Virtus ETF Advisers LLC acquired a new stake in Banco Bradesco in the second quarter worth $36,000. Exane Derivatives acquired a new stake in Banco Bradesco in the second quarter worth $43,000. Finally, Lindbrook Capital LLC raised its holdings in Banco Bradesco by 28.1% in the second quarter. Lindbrook Capital LLC now owns 6,348 shares of the bank’s stock worth $62,000 after purchasing an additional 1,393 shares during the period. 2.18% of the stock is currently owned by hedge funds and other institutional investors.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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