Banco Bradesco (NYSE:BBD) Reaches New 1-Year High - Still a Buy?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) shares hit a new 52-week high during trading on Thursday . The company traded as high as $3.02 and last traded at $3.00, with a volume of 22428177 shares. The stock had previously closed at $2.97.

Analysts Set New Price Targets

BBD has been the topic of several recent analyst reports. Bank of America upgraded Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $2.40.

Banco Bradesco Price Performance

The firm has a market capitalization of $31.77 billion, a P/E ratio of 9.95, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The business has a 50 day simple moving average of $2.56 and a two-hundred day simple moving average of $2.23.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. The company had revenue of $5.69 billion for the quarter, compared to analysts' expectations of $31.24 billion. On average, sell-side analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a dividend, which will be paid on Wednesday, July 9th. Shareholders of record on Thursday, June 5th will be paid a $0.0021 dividend. The ex-dividend date of this dividend is Wednesday, June 4th. This represents a yield of 0.88%. Banco Bradesco's dividend payout ratio (DPR) is currently 6.25%.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently added to or reduced their stakes in BBD. ARGA Investment Management LP grew its position in shares of Banco Bradesco by 53.0% in the 1st quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after buying an additional 43,884,334 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock valued at $73,885,000 after purchasing an additional 17,853,712 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Banco Bradesco by 22.7% in the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after purchasing an additional 12,873,188 shares in the last quarter. Moerus Capital Management LLC bought a new stake in Banco Bradesco during the first quarter valued at about $27,372,000. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 13.9% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after purchasing an additional 12,236,689 shares in the last quarter.

About Banco Bradesco

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.