Banco Bradesco (NYSE:BBDO) Hits New 1-Year High – Time to Buy?

Banco Bradesco SA (NYSE:BBDO) shares reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.70 and last traded at $3.68, with a volume of 1337 shares. The stock had previously closed at $3.65.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Banco Bradesco Stock Up 1.1%

The business has a 50 day moving average price of $3.09 and a 200 day moving average price of $2.89. The firm has a market capitalization of $38.10 billion, a P/E ratio of 10.55 and a beta of 0.57. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be paid a $0.0032 dividend. The ex-dividend date is Wednesday, February 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.0%. Banco Bradesco’s dividend payout ratio is 5.71%.

Institutional Trading of Banco Bradesco

A number of hedge funds have recently bought and sold shares of the stock. Goldman Sachs Group Inc. increased its holdings in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after purchasing an additional 181,299 shares during the period. Farther Finance Advisors LLC lifted its position 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 worth $30,000 after acquiring an additional 10,974 shares during the period. Ritholtz Wealth Management bought a new stake in shares of Banco Bradesco in the 2nd quarter worth approximately $30,000. Savant Capital LLC acquired a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $51,000. Finally, D Orazio & Associates Inc. increased its position in shares of Banco Bradesco by 432.0% during the second quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank’s stock valued at $182,000 after purchasing an additional 54,085 shares during the period.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.