Banco Bradesco (NYSE:BBDO) Sets New 12-Month High – Should You Buy?

Banco Bradesco SA (NYSE:BBDO)’s share price reached a new 52-week high during trading on Thursday . The company traded as high as $3.34 and last traded at $3.35, with a volume of 10463 shares traded. The stock had previously closed at $3.28.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Performance

The business’s 50-day moving average price is $3.03 and its 200-day moving average price is $2.83. The stock has a market cap of $33.42 billion, a P/E ratio of 9.61 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be paid a $0.0032 dividend. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, February 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 5.71%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently modified their holdings of the stock. Franklin Resources Inc. lifted its position in Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after buying an additional 47,370,132 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Banco Bradesco by 54.2% during the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after buying an additional 181,299 shares during the period. Kathmere Capital Management LLC grew its position in Banco Bradesco by 82.8% in the 4th quarter. Kathmere Capital Management LLC now owns 196,166 shares of the bank’s stock valued at $563,000 after acquiring an additional 88,859 shares during the last quarter. Caprock Group LLC purchased a new position in Banco Bradesco in the 3rd quarter worth about $410,000. Finally, D Orazio & Associates Inc. increased its position in shares of Banco Bradesco by 37.3% during the third quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock worth $268,000 after acquiring an additional 24,822 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.