Banco Bradesco (NYSE:BBDO) Sets New 12-Month High – Here’s Why

Banco Bradesco SA (NYSE:BBDO)’s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.09 and last traded at $3.0550, with a volume of 170342 shares traded. The stock had previously closed at $2.98.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Banco Bradesco in a report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of “Hold”.

Banco Bradesco Price Performance

The company has a fifty day simple moving average of $2.82 and a two-hundred day simple moving average of $2.60. 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 company has a market capitalization of $32.51 billion, a price-to-earnings ratio of 8.73 and a beta of 0.82.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Wednesday, November 5th will be paid a dividend of $0.0032 per share. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco’s payout ratio is currently 5.71%.

Institutional Trading of Banco Bradesco

Several institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at $30,000. Farther Finance Advisors LLC grew its stake in shares of Banco Bradesco by 5,542.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after buying an additional 10,974 shares during the period. Savant Capital LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at $51,000. Aprio Wealth Management LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at $43,000. Finally, Kathmere Capital Management LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at $98,000.

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.