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

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

Analyst Ratings Changes

Several research analysts recently commented on BBDO shares. Canaccord Genuity Group decreased their target price on shares of Banco Bradesco from $70.00 to $66.00 and set a “buy” rating on the stock in a research note on Thursday, July 30th. Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Wells Fargo & Company decreased their price objective on shares of Banco Bradesco from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Banco Bradesco from $75.00 to $60.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Finally, UBS Group lowered their price objective on shares of Banco Bradesco from $74.00 to $67.00 and set a “buy” rating for the company in a research note on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.58.

Banco Bradesco Stock Performance

The company has a market capitalization of $25.38 billion, a PE ratio of 5.25 and a beta of 0.57. The company has a 50 day moving average of $3.22 and a two-hundred day moving average of $3.26. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.72 and a quick ratio of 1.72.

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

Banco Bradesco Increases Dividend

The firm 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 dividend of $0.0035 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Thursday, November 5th. Banco Bradesco’s payout ratio is 4.35%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the business. D Orazio & Associates Inc. grew its position in Banco Bradesco by 12.4% in the 3rd quarter. D Orazio & Associates Inc. now owns 144,036 shares of the bank’s stock worth $444,000 after purchasing an additional 15,876 shares during the period. Renaissance Technologies LLC raised its stake in Banco Bradesco by 198.9% during the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after buying an additional 23,289 shares during the last quarter. XXI Wealth LLC lifted its holdings in shares of Banco Bradesco by 156.1% during the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank’s stock valued at $104,000 after buying an additional 20,519 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Banco Bradesco by 160.5% during the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after buying an additional 18,168 shares during the period. Finally, QRG Capital Management Inc. lifted its holdings in shares of Banco Bradesco by 49.2% during the 2nd quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock valued at $64,000 after buying an additional 7,068 shares during the period.

Banco Bradesco Company Profile

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.