Banco Bradesco SA (NYSE:BBD) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note issued on Monday, MarketBeat Ratings reports.

According to Zacks, “Banco Bradesco’s main activities are the provision of banking and insurance services such as private and industrial credit loans, credit cards, mortgaged loans, 24 hour banking, health and life insurance, leasing, pension fund management and services for stock market investors. “

Several hedge funds and institutional investors have modified their holdings of the company. Legato Capital Management raised its position in shares of Banco Bradesco SA by 8.5% in the fourth quarter. Legato Capital Management now owns 700,000 shares of the company’s stock valued at $3,367,000 after buying an additional 55,000 shares during the last quarter. Harding Loevner LP raised its position in shares of Banco Bradesco SA by 10.4% in the fourth quarter. Harding Loevner LP now owns 18,722,496 shares of the company’s stock valued at $90,055,000 after buying an additional 1,762,700 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Banco Bradesco SA by 6.4% in the fourth quarter. Nordea Investment Management AB now owns 538,560 shares of the company’s stock valued at $2,590,000 after buying an additional 32,610 shares during the last quarter. Nikko Asset Management Americas raised its position in shares of Banco Bradesco SA by 39.3% in the fourth quarter. Nikko Asset Management Americas now owns 53,120 shares of the company’s stock valued at $256,000 after buying an additional 15,000 shares during the last quarter. Finally, ING Groep acquired a new position in shares of Banco Bradesco SA during the third quarter valued at about $192,000.

Banco Bradesco SA (NYSE:BBD) traded up 0.47% on Monday, reaching $4.25. 1,964,455 shares of the company’s stock were exchanged. The firm’s 50 day moving average price is $4.75 and its 200 day moving average price is $6.01. Banco Bradesco SA has a 52-week low of $4.01 and a 52-week high of $13.79. The company has a market cap of $21.38 billion and a PE ratio of 5.15.

Banco Bradesco SA (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 29th. The company reported $0.25 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.23 by $0.02. On average, analysts expect that Banco Bradesco SA will post $0.92 earnings per share for the current year.

The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 9th. Investors of record on Thursday, February 4th will be paid a $0.004 dividend. The ex-dividend date is Tuesday, February 2nd. This represents a $0.05 annualized dividend and a dividend yield of 1.13%.

Several other brokerages have also commented on BBD. Deutsche Bank upgraded shares of Banco Bradesco SA from a “hold” rating to a “buy” rating in a report on Monday, October 12th. Credit Suisse lowered shares of Banco Bradesco SA from a “neutral” rating to an “underperform” rating in a report on Tuesday, October 13th. Three analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. Banco Bradesco SA currently has an average rating of “Hold” and a consensus price target of $9.00.

Banco Bradesco S.A. (NYSE:BBD) is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, companies and local and international corporations and institutions. Its products and services include banking operations, such as loans and advances and deposit-taking, credit card issuance, purchasing consortiums, insurance, leasing, payment collection and processing, pension plans, asset management and brokerage services. The Bank operates in two segments: banking and insurance. The banking segment includes a range of banking activities, serving individual and corporate customers in the investment banking, national and international banking operations, and asset management and consortium administration operations. The insurance segment covers auto, health, life, accident and property insurance and pension plans as well as capitalization bonds.

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