Banco Bradesco (NYSE:BBDO) Sets New 1-Year High – Here’s What Happened

Shares of Banco Bradesco SA (NYSE:BBDO) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $3.64 and last traded at $3.6150, with a volume of 41606 shares traded. The stock had previously closed at $3.48.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Banco Bradesco Price Performance

The firm’s fifty day moving average is $3.07 and its two-hundred day moving average is $2.87. 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 company has a market cap of $38.95 billion, a P/E ratio of 10.41 and a beta of 0.60.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be issued a dividend of $0.0032 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a c) annualized dividend and a dividend yield of 1.1%. Banco Bradesco’s payout ratio is currently 5.71%.

Institutional Trading of Banco Bradesco

Several hedge funds have recently modified their holdings of the company. Intergy Private Wealth LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at $30,000. Ritholtz Wealth Management bought a new position in Banco Bradesco in the second quarter worth approximately $30,000. Farther Finance Advisors LLC lifted its stake in Banco Bradesco by 5,542.4% in the second quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock worth $30,000 after acquiring an additional 10,974 shares during the period. Compound Planning Inc. bought a new position in shares of Banco Bradesco during the third quarter valued at approximately $35,000. Finally, Savant Capital LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter valued at $51,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.