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

by · The Cerbat Gem

Banco Bradesco SA (NYSE:BBDO – Get Free Report) 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 trading hands. The stock had previously closed at $2.98.

Wall Street Analyst Weigh In

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

Check Out Our Latest Stock Report on Banco Bradesco

Banco Bradesco Price Performance

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 stock has a market cap of $32.51 billion, a price-to-earnings ratio of 8.73 and a beta of 0.82. The business’s fifty day simple moving average is $2.82 and its 200 day simple moving average is $2.60.

Banco Bradesco Cuts Dividend

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

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors have recently added to or reduced their stakes in the company. Ritholtz Wealth Management acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $30,000. Farther Finance Advisors LLC raised its stake 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 purchasing an additional 10,974 shares in the last quarter. Savant Capital LLC acquired a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $51,000. Aprio Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at about $43,000. Finally, Kathmere Capital Management LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at about $98,000.

Banco Bradesco Company Profile

(Get Free Report)

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.

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