Banco Bradesco (NYSE:BBD) Hits New 1-Year High – Here’s Why

Banco Bradesco SA (NYSE:BBD) shares hit a new 52-week high on Wednesday . The company traded as high as $4.18 and last traded at $4.1450, with a volume of 61527537 shares. The stock had previously closed at $3.97.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, Banco Bradesco presently has a consensus rating of “Moderate Buy” and an average target price of $2.00.

Banco Bradesco Trading Up 4.4%

The company’s 50 day simple moving average is $3.50 and its two-hundred day simple moving average is $3.28. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $44.11 billion, a price-to-earnings ratio of 11.84, a price-to-earnings-growth ratio of 0.37 and a beta of 0.54.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 30th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%.The firm had revenue of $3.91 billion for the quarter, compared to analysts’ expectations of $34.75 billion. Research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be paid a $0.0035 dividend. This represents a c) dividend on an annualized basis and a yield of 1.0%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, February 4th. Banco Bradesco’s dividend payout ratio is presently 5.71%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently modified their holdings of BBD. GAMMA Investing LLC increased its position in Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock worth $25,000 after buying an additional 3,864 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in shares of Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after acquiring an additional 4,353 shares in the last quarter. Brooklyn Investment Group increased its holdings in shares of Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after acquiring an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in shares of Banco Bradesco during the 4th quarter valued at about $39,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Banco Bradesco in the 2nd quarter valued at approximately $42,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.