Banco Bradesco (NYSE:BBDO) Reaches New 52-Week High – Time to Buy?
by Renee Jackson · The Cerbat GemBanco Bradesco SA (NYSE:BBDO – Get Free Report)’s share price reached a new 52-week high on Tuesday. The stock traded as high as $3.93 and last traded at $3.7590, with a volume of 261810 shares changing hands. The stock had previously closed at $3.16.
Analyst Ratings Changes
Separately, Weiss Ratings lowered shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company presently has an average rating of “Hold”.
Banco Bradesco Stock Down 3.5%
The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $41.11 billion, a price-to-earnings ratio of 9.24 and a beta of 0.48. The firm has a 50-day moving average price of $3.18 and a two-hundred day moving average price of $3.20.
Banco Bradesco Announces Dividend
The company also recently declared a special dividend, which will be paid on Monday, May 10th. Shareholders of record on Thursday, October 15th will be given a dividend of $0.0662 per share. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is 7.14%.
Institutional Investors Weigh In On Banco Bradesco
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC grew its holdings in shares of Banco Bradesco by 79.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after acquiring an additional 1,360,089 shares in the last quarter. Ritholtz Wealth Management raised its holdings in Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock worth $716,000 after acquiring an additional 145,684 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in Banco Bradesco by 33.5% during the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock worth $861,000 after acquiring an additional 65,621 shares in the last quarter. Renaissance Technologies LLC boosted its position in Banco Bradesco by 198.9% during the first quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after purchasing an additional 23,289 shares during the last quarter. Finally, Cetera Investment Advisers boosted its position in Banco Bradesco by 160.5% during the first quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after purchasing an additional 18,168 shares during the last quarter.
About Banco Bradesco
Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.
Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.