Banco Bradesco (NYSE:BBD) Hits New 1-Year Low – Here’s Why

by · The Cerbat Gem

Banco Bradesco S.A. (NYSE:BBD – Get Free Report)’s share price reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.01 and last traded at $2.01, with a volume of 62761745 shares changing hands. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the company. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

Get Our Latest Stock Analysis on Banco Bradesco

Banco Bradesco Stock Performance

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The business has a fifty day moving average of $2.44 and a 200-day moving average of $2.49. The company has a market cap of $23.02 billion, a PE ratio of 8.00, a P/E/G ratio of 0.24 and a beta of 0.94.

Banco Bradesco (NYSE:BBD – Get Free Report) last released its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Equities research analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. The ex-dividend date is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 1.84%. Banco Bradesco’s payout ratio is currently 11.54%.

Institutional Trading of Banco Bradesco

A number of hedge funds have recently bought and sold shares of BBD. Insigneo Advisory Services LLC boosted its stake in shares of Banco Bradesco by 23.9% in the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after acquiring an additional 4,260 shares during the period. Inspire Advisors LLC increased its position in shares of Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after purchasing an additional 4,737 shares during the last quarter. Blue Trust Inc. raised its holdings in Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the period. Daiwa Securities Group Inc. lifted its position in Banco Bradesco by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after buying an additional 8,000 shares during the last quarter. Finally, Simplicity Wealth LLC boosted its stake in Banco Bradesco by 11.9% during the second quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock worth $173,000 after buying an additional 8,165 shares during the period.

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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