Banco Bradesco (NYSE:BBD) Hits New 12-Month Low – Here’s What Happened

Shares of Banco Bradesco S.A. (NYSE:BBD) reached a new 52-week low on Monday . The stock traded as low as $2.01 and last traded at $2.01, with a volume of 62761745 shares trading hands. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Performance

The firm has a market capitalization of $23.02 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.24 and a beta of 0.94. The stock’s 50 day moving average price is $2.44 and its two-hundred day moving average price is $2.49. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. On average, analysts forecast that Banco Bradesco S.A. will post 0.34 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.0033 dividend. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 annualized dividend and a yield of 1.84%. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA boosted its position in shares of Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock valued at $233,988,000 after purchasing an additional 55,444,555 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth about $104,542,000. Itau Unibanco Holding S.A. grew its holdings in shares of Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after purchasing an additional 13,627,768 shares in the last quarter. Fisher Asset Management LLC raised its holdings in shares of Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after buying an additional 12,228,662 shares in the last quarter. Finally, Two Sigma Advisers LP grew its position in Banco Bradesco by 208.7% during the 3rd quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock worth $44,824,000 after acquiring an additional 11,393,100 shares during the last quarter.

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.