Banco Bradesco (NYSE:BBDO) Sets New 12-Month High – Here’s Why
by Tristan Rich · The Markets DailyBanco Bradesco SA (NYSE:BBDO – Get Free Report)’s stock price reached a new 52-week high on Monday. The stock traded as high as $4.16 and last traded at $4.0050, with a volume of 16,301 shares trading hands. The stock had previously closed at $3.92.
Wall Street Analyst Weigh In
Separately, Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday. One research analyst has rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy”.
View Our Latest Analysis on BBDO
Banco Bradesco Price Performance
The company’s 50-day moving average price is $3.20 and its 200-day moving average price is $3.21. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $41.91 billion, a P/E ratio of 9.42 and a beta of 0.48.
Banco Bradesco Dividend Announcement
The business also recently announced a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be paid a $0.0662 dividend. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is presently 42.86%.
Institutional Trading of Banco Bradesco
Several hedge funds and other institutional investors have recently modified their holdings of the company. QRG Capital Management Inc. lifted its holdings 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 purchasing an additional 7,068 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in shares of Banco Bradesco during the second quarter worth about $33,000. Royal Bank of Canada boosted its position in shares of 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 buying an additional 15,180 shares during the period. Cetera Investment Advisers grew its holdings 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 worth $97,000 after buying an additional 18,168 shares in the last quarter. Finally, Renaissance Technologies LLC grew its holdings 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 worth $115,000 after buying an additional 23,289 shares in the last quarter.
Banco Bradesco Company Profile
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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