Banco Bradesco (NYSE:BBD) Reaches New 52-Week High – Still a Buy?

Banco Bradesco SA (NYSE:BBD)’s share price reached a new 52-week high on Thursday . The stock traded as high as $3.55 and last traded at $3.5150, with a volume of 5567448 shares changing hands. The stock had previously closed at $3.53.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $2.40.

Banco Bradesco Price Performance

The firm’s fifty day moving average is $3.25 and its two-hundred day moving average is $2.98. The company has a market cap of $37.19 billion, a P/E ratio of 10.01, a P/E/G ratio of 0.43 and a beta of 0.75. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Wednesday, October 29th. The bank reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 13.16%. The company had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $34.75 billion. As a group, analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

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 paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, November 5th. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC increased its holdings in Banco Bradesco by 92.7% during the second quarter. GAMMA Investing LLC now owns 8,034 shares of the bank’s stock valued at $25,000 after buying an additional 3,864 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Banco Bradesco by 100.5% in the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after acquiring an additional 4,353 shares during the period. Aprio Wealth Management LLC acquired a new position in shares of Banco Bradesco during the 1st quarter worth about $25,000. Dorsey & Whitney Trust CO LLC acquired a new position in shares of Banco Bradesco during the 1st quarter worth about $26,000. Finally, Boothbay Fund Management LLC purchased a new stake in Banco Bradesco during the 2nd quarter valued at about $42,000.

Banco Bradesco Company Profile

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.