Banco Bradesco (NYSE:BBDO) Hits New 1-Year High – What’s Next?

Banco Bradesco SA (NYSE:BBDO)’s stock price hit a new 52-week high on Monday . The stock traded as high as $3.16 and last traded at $3.1040, with a volume of 2579 shares traded. The stock had previously closed at $3.13.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Banco Bradesco in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Hold”.

Banco Bradesco Trading Down 1.0%

The stock has a market cap of $32.99 billion, a P/E ratio of 8.86 and a beta of 0.82. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The firm’s fifty day simple moving average is $2.85 and its 200-day simple moving average is $2.63.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 3rd will be paid a $0.0032 dividend. The ex-dividend date is Wednesday, December 3rd. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio is presently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of BBDO. Kathmere Capital Management LLC purchased a new stake in Banco Bradesco in the first quarter worth about $98,000. Aprio Wealth Management LLC bought a new stake in shares of Banco Bradesco during the first quarter worth $43,000. Goldman Sachs Group Inc. lifted its holdings in Banco Bradesco by 54.2% during the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after buying an additional 181,299 shares during the period. Farther Finance Advisors LLC increased its position in shares of Banco Bradesco by 5,542.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after acquiring an additional 10,974 shares during the period. Finally, Ritholtz Wealth Management acquired a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $30,000.

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.