Banco Bradesco (NYSE:BBD) Reaches New 1-Year High – Time to Buy?

Banco Bradesco SA (NYSE:BBD) reached a new 52-week high during trading on Wednesday . The company traded as high as $3.74 and last traded at $3.7150, with a volume of 34864594 shares trading hands. The stock had previously closed at $3.61.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $2.40.

Banco Bradesco Trading Down 0.9%

The business has a 50 day moving average price of $3.29 and a 200-day moving average price of $3.02. The firm has a market cap of $39.22 billion, a price-to-earnings ratio of 10.53, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.11 by ($0.02). The firm had revenue of $11.14 billion during the quarter, compared to analyst estimates of $34.75 billion. Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. As a group, research analysts expect that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be paid a dividend of $0.0035 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a c) annualized dividend and a yield of 1.1%. Banco Bradesco’s payout ratio is presently 5.71%.

Institutional Trading of Banco Bradesco

Large investors have recently modified their holdings of the business. Aprio Wealth Management LLC acquired a new position in shares of Banco Bradesco in the first quarter worth about $25,000. GAMMA Investing LLC raised its position in shares of Banco Bradesco by 92.7% in the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after purchasing an additional 3,864 shares in the last quarter. Dorsey & Whitney Trust CO LLC purchased a new position in shares of Banco Bradesco during the 1st quarter valued at approximately $26,000. EverSource Wealth Advisors LLC grew its position in shares of Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after buying an additional 4,353 shares in the last quarter. Finally, Boothbay Fund Management LLC bought a new stake in shares of Banco Bradesco in the second quarter worth $42,000.

About Banco Bradesco

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.