Banco Bradesco (NYSE:BBDO) Reaches New 52-Week Low – Here’s Why

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

Analysts Set New Price Targets

A number of research analysts have issued reports on the stock. Wells Fargo & Company reduced 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. Argus lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, July 31st. JPMorgan Chase & Co. decreased their price target on Banco Bradesco from $80.00 to $56.00 and set an “overweight” rating for the company in a research note on Thursday, July 30th. Oppenheimer lowered their price target on Banco Bradesco from $90.00 to $85.00 and set an “outperform” rating on the stock in a report on Monday, July 27th. Finally, Canaccord Genuity Group dropped their price target on shares of Banco Bradesco from $70.00 to $66.00 and set a “buy” rating on the stock in a research report on Thursday, July 30th. Eleven analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $73.58.

Banco Bradesco Price Performance

The firm has a market capitalization of $25.54 billion, a P/E ratio of 5.24 and a beta of 0.48. The company has a current ratio of 1.72, a quick ratio of 1.48 and a debt-to-equity ratio of 2.78. The business’s fifty day moving average is $3.25 and its 200 day moving average is $3.27.

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

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be paid a $0.0035 dividend. The ex-dividend date is Thursday, November 5th. This represents a $0.04 annualized dividend and a yield of 1.7%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0034. Banco Bradesco’s dividend payout ratio (DPR) is currently 39.13%.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the company. Park Avenue Securities LLC bought a new position in shares of Banco Bradesco during the 3rd quarter valued at $37,000. XXI Wealth LLC lifted its position 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 worth $104,000 after purchasing an additional 20,519 shares during the last quarter. Intergy Private Wealth LLC grew its stake in shares of Banco Bradesco by 44.8% in the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock worth $63,000 after acquiring an additional 6,302 shares during the last quarter. QRG Capital Management Inc. lifted its stake in shares of Banco Bradesco by 49.2% in the second 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. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Banco Bradesco during the second quarter valued at approximately $33,000.

About Banco Bradesco

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.