Banco Bradesco (NYSE:BBDO) Reaches New 1-Year Low – What’s Next?

Banco Bradesco SA (NYSE:BBDO)’s share price reached a new 52-week low during mid-day trading on Tuesday. The stock traded as low as $2.39 and last traded at $2.4270, with a volume of 1,115 shares. The stock had previously closed at $2.43.

Analysts Set New Price Targets

A number of research firms have weighed in on BBDO. Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Argus lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. Canaccord Genuity Group cut their price target on shares of Banco Bradesco from $70.00 to $66.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. UBS Group reduced their price objective on shares of Banco Bradesco from $74.00 to $67.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup lowered shares of Banco Bradesco to a “neutral” rating in a report on Tuesday, October 27th. Eleven research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $73.58.

Banco Bradesco Price Performance

The company has a 50 day moving average of $3.25 and a 200-day moving average of $3.27. The company has a quick ratio of 1.48, a current ratio of 1.72 and a debt-to-equity ratio of 2.78. The stock has a market capitalization of $25.54 billion, a P/E ratio of 5.24 and a beta of 0.48.

Banco Bradesco (NYSE:BBDO) last posted its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. The business had revenue of $7.75 billion during the quarter. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be paid a $0.0035 dividend. The ex-dividend date is Thursday, November 5th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 dividend on an annualized basis and a yield of 1.7%. Banco Bradesco’s payout ratio is presently 39.13%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC acquired a new position in Banco Bradesco during the 3rd quarter valued at approximately $37,000. XXI Wealth LLC grew its stake in Banco Bradesco by 156.1% during the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank’s stock worth $104,000 after buying an additional 20,519 shares during the last quarter. Intergy Private Wealth LLC increased its position in Banco Bradesco by 44.8% in the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock worth $63,000 after buying an additional 6,302 shares during the period. QRG Capital Management Inc. increased its position in Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after buying an additional 7,068 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in Banco Bradesco in the second quarter valued at $33,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.