Banco Bradesco SA (NYSE:BBDO – Get Free Report)’s share price reached a new 52-week low on Wednesday. The stock traded as low as $2.58 and last traded at $2.5950, with a volume of 110,272 shares changing hands. The stock had previously closed at $2.76.
Analyst Ratings Changes
Several equities analysts recently weighed in on BBDO shares. Wells Fargo & Company decreased their target price on shares of Banco Bradesco from $55.00 to $50.00 and set an “equal weight” rating for the company in a research note on Thursday, July 30th. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Citigroup lowered shares of Banco Bradesco to a “neutral” rating in a research report on Tuesday. JPMorgan Chase & Co. reduced their price objective on shares of Banco Bradesco from $80.00 to $56.00 and set an “overweight” rating on the stock in a research note on Thursday, July 30th. Finally, Argus downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. 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 company has an average rating of “Moderate Buy” and an average price target of $73.58.
Get Our Latest Research Report on Banco Bradesco
Banco Bradesco Stock Performance
The firm has a market cap of $25.59 billion, a PE ratio of 5.24 and a beta of 0.48. The company has a 50-day simple moving average of $3.27 and a two-hundred day simple 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.
Banco Bradesco (NYSE:BBDO – Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. The company 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 disclosed a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be given a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.7%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s payout ratio is currently 4.35%.
Institutional Investors Weigh In On Banco Bradesco
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kathmere Capital Management LLC grew its holdings in Banco Bradesco by 33.5% during the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock valued at $861,000 after buying an additional 65,621 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Banco Bradesco by 198.9% during the first quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after purchasing an additional 23,289 shares during the period. XXI Wealth LLC grew its stake in Banco Bradesco by 156.1% in the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank’s stock worth $104,000 after acquiring an additional 20,519 shares in the last quarter. Cetera Investment Advisers boosted its stake in shares of Banco Bradesco by 160.5% during the first quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after purchasing an additional 18,168 shares in the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Banco Bradesco by 307.2% in the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after buying an additional 15,180 shares in the last quarter.
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.
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