Banco Bradesco (NYSE:BBDO) Reaches New 1-Year High – Here’s What Happened

by · The Cerbat Gem

Banco Bradesco SA (NYSE:BBDO – Get Free Report) hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $4.16 and last traded at $4.0050, with a volume of 16,301 shares. The stock had previously closed at $3.92.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat.com, Banco Bradesco has an average rating of “Buy”.

Get Our Latest Report on BBDO

Banco Bradesco Stock Performance

The company has a market cap of $40.51 billion, a P/E ratio of 8.76 and a beta of 0.48. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The company has a 50 day moving average price of $3.22 and a 200-day moving average price of $3.22.

Banco Bradesco Dividend Announcement

The business also recently announced a special dividend, which will be paid on Monday, May 10th. Shareholders of record on Thursday, October 15th will be paid a dividend of $0.0662 per share. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.14%.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Kathmere Capital Management LLC lifted its stake in shares of Banco Bradesco by 33.5% in the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock worth $861,000 after acquiring an additional 65,621 shares during the period. Ritholtz Wealth Management increased its stake in shares of Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock valued at $716,000 after acquiring an additional 145,684 shares during the period. Renaissance Technologies LLC increased 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 acquiring an additional 23,289 shares during the period. Cetera Investment Advisers increased 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 acquiring an additional 18,168 shares during the period. Finally, Royal Bank of Canada raised its holdings in Banco Bradesco by 307.2% during the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock worth $67,000 after purchasing an additional 15,180 shares in the last quarter.

Banco Bradesco Company Profile

(Get Free Report)

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.

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