Banco Bradesco (NYSE:BBD) Reaches New 12-Month Low at $2.60

Banco Bradesco S.A. (NYSE:BBD)’s share price hit a new 52-week low during trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.65, with a volume of 16184872 shares changing hands. The stock had previously closed at $2.66.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBD. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price on the stock in a research note on Tuesday, February 20th. Finally, Jefferies Financial Group lowered Banco Bradesco from a “buy” rating to a “hold” rating in a report on Friday, February 9th.

Banco Bradesco Stock Performance

The firm has a 50-day moving average of $2.81 and a 200-day moving average of $3.04. The stock has a market capitalization of $28.24 billion, a price-to-earnings ratio of 12.62 and a beta of 0.95. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.0038 per share. This represents a $0.05 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, April 2nd. Banco Bradesco’s payout ratio is 14.29%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently modified their holdings of the business. Natixis purchased a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $26,000. Savvy Advisors Inc. purchased a new stake in shares of Banco Bradesco during the 4th quarter worth $35,000. LGT Group Foundation purchased a new stake in shares of Banco Bradesco in the 3rd quarter worth about $30,000. CI Private Wealth LLC purchased a new stake in shares of Banco Bradesco in the 4th quarter worth about $32,000. Finally, HTLF Bank purchased a new position in Banco Bradesco in the 4th quarter valued at about $42,000.

Banco Bradesco Company Profile

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.