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

Banco Bradesco S.A. (NYSE:BBD)’s share price hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $2.01 and last traded at $2.01, with a volume of 101817 shares. The stock had previously closed at $2.02.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBD. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Trading Down 1.5 %

The firm has a market cap of $21.21 billion, a P/E ratio of 7.77, a PEG ratio of 0.32 and a beta of 0.94. The firm’s fifty day moving average is $2.40 and its two-hundred day moving average is $2.48. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Analysts predict that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a $0.0033 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.99%. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Several large investors have recently modified their holdings of the stock. Insigneo Advisory Services LLC raised its position in Banco Bradesco by 23.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC grew its stake in shares of Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after acquiring an additional 4,737 shares during the period. Blue Trust Inc. boosted its stake in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares during the period. Daiwa Securities Group Inc. boosted its stake in Banco Bradesco by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after purchasing an additional 8,000 shares during the period. Finally, Atria Investments Inc raised its holdings in shares of Banco Bradesco by 24.3% during the 3rd quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after acquiring an additional 8,641 shares in the last quarter.

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.