Banco Bradesco (NYSE:BBDO) Hits New 12-Month High - Should You Buy?
Banco Bradesco (NYSE:BBDO) reached a new 52-week high of $3.16 during trading, closing at $3.1040. Analysts maintain a consensus "Hold" rating, with Weiss Ratings reaffirming a "hold (c+)". The company declared a monthly dividend of $0.0032, up from $0.00, with a yield of 1.2%. Hedge funds have recently adjusted their stakes in the bank, with notable increases in holdings. Banco Bradesco provides various banking and insurance services in Brazil and internationally.
Banco Bradesco SA (NYSE:BBDO - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Monday . The stock traded as high as $3.16 and last traded at $3.1040, with a volume of 2579 shares changing hands. The stock had previously closed at $3.13.
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Wall Street Analysts Forecast Growth
Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Banco Bradesco presently has a consensus rating of "Hold".
View Our Latest Report on BBDO
Banco Bradesco Stock Down 1.0%
The business's 50 day moving average price is $2.85 and its 200-day moving average price is $2.63. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.11 and a current ratio of 1.11. The firm has a market capitalization of $32.99 billion, a PE ratio of 8.86 and a beta of 0.82.
Banco Bradesco Increases Dividend
The business also recently declared a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be given a $0.0032 dividend. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 3rd. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco's payout ratio is presently 5.71%.
Hedge Funds Weigh In On Banco Bradesco
Hedge funds have recently added to or reduced their stakes in the business. D Orazio & Associates Inc. grew 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 last quarter. Caprock Group LLC acquired a new position in Banco Bradesco in the third quarter worth approximately $410,000. Envestnet Asset Management Inc. purchased a new stake in shares of Banco Bradesco during the third quarter valued at $72,000. Savant Capital LLC purchased a new position in Banco Bradesco during the 2nd quarter worth approximately $51,000. Finally, Ritholtz Wealth Management purchased a new position in Banco Bradesco during the 2nd quarter valued at about $30,000.
Banco Bradesco Company Profile
(Get Free Report)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.
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