Goldman Sachs Reinstates Banco Bradesco SA (ADR) to Neutral

Brokerage firm Goldman Sachs Reinstates its rating on Banco Bradesco SA (ADR)(NYSE:BBD). The shares have been rated Neutral. The rating by Goldman Sachs was issued on Sep 21, 2016.

Banco Bradesco SA (ADR) (BBD) made into the market gainers list on Tuesdays trading session with the shares advancing 1.76% or 0.15 points. Due to strong positive momentum, the stock ended at $8.68, which is also near the day’s high of $8.79. The stock began the session at $8.74 and the volume stood at 1,06,93,924 shares. The 52-week high of the shares is $9.46 and the 52 week low is $3.645454. The company has a current market capitalization of $48,017 M and it has 5,53,18,85,100 shares in outstanding.

Banco Bradesco SA (ADR)(BBD) last announced its earnings results on Jul 28, 2016 for Fiscal Year 2016 and Q2.Company reported revenue of $6.92B. Analysts had an estimated revenue of $6.89B. Earnings per share were $0.96. Analysts had estimated an EPS of $0.21.

Banco Bradesco S.A. (the Bank) 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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