Banco Bradesco (NYSE:BBD) Cut to Sell at The Goldman Sachs Group

Banco Bradesco (NYSE:BBD) was downgraded by research analysts at The Goldman Sachs Group from a “buy” rating to a “sell” rating in a research report issued on Wednesday, MarketBeat.com reports. They currently have a $2.00 price objective on the bank’s stock, down from their prior price objective of $2.40. The Goldman Sachs Group’s target price points to a potential downside of 4.53% from the stock’s current price.

A number of other brokerages also recently issued reports on BBD. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Trading Up 0.7 %

BBD opened at $2.10 on Wednesday. The stock’s fifty day moving average is $1.99 and its two-hundred day moving average is $2.38. The company has a market capitalization of $22.30 billion, a P/E ratio of 8.06, a PEG ratio of 0.28 and a beta of 0.94. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $2.98. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Analysts forecast that Banco Bradesco will post 0.33 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Marshall Wace LLP grew its stake in Banco Bradesco by 45.4% during the 4th quarter. Marshall Wace LLP now owns 27,742,604 shares of the bank’s stock worth $52,988,000 after buying an additional 8,661,231 shares during the last quarter. Guggenheim Capital LLC grew its stake in Banco Bradesco by 88.1% during the 4th quarter. Guggenheim Capital LLC now owns 40,503 shares of the bank’s stock worth $77,000 after buying an additional 18,965 shares during the last quarter. Walleye Capital LLC grew its stake in Banco Bradesco by 4.4% during the 4th quarter. Walleye Capital LLC now owns 4,104,823 shares of the bank’s stock worth $7,840,000 after buying an additional 174,244 shares during the last quarter. XTX Topco Ltd grew its stake in Banco Bradesco by 36.1% during the 4th quarter. XTX Topco Ltd now owns 813,424 shares of the bank’s stock worth $1,554,000 after buying an additional 215,775 shares during the last quarter. Finally, Mariner LLC lifted its position in Banco Bradesco by 223.8% during the 4th quarter. Mariner LLC now owns 247,490 shares of the bank’s stock worth $473,000 after acquiring an additional 171,050 shares during the period.

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.