Banco Bradesco (NYSE:BBD) Reaches New 52-Week High - Still a Buy?

Banco Bradesco SA (NYSE:BBD - Get Free Report)'s stock price hit a new 52-week high on Monday . The stock traded as high as $3.12 and last traded at $3.10, with a volume of 41449265 shares. The stock had previously closed at $3.03.

Analyst Ratings Changes

BBD has been the subject of several research analyst reports. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. One equities research analyst has rated the stock with a sell rating, one has issued a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Price Performance

The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. The company has a market cap of $32.67 billion, a PE ratio of 9.59, a price-to-earnings-growth ratio of 0.44 and a beta of 0.71. The business's 50 day moving average price is $2.81 and its 200-day moving average price is $2.33.

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. The business had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. As a group, analysts forecast that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a -- dividend, which will be paid on Tuesday, February 10th. Shareholders of record on Wednesday, July 2nd will be given a dividend of $0.0351 per share. This represents a yield of 4.7%. The ex-dividend date of this dividend is Wednesday, July 2nd. Banco Bradesco's payout ratio is 37.50%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBD. Inspire Investing LLC grew its stake in shares of Banco Bradesco by 121.0% in the first quarter. Inspire Investing LLC now owns 23,919 shares of the bank's stock worth $53,000 after acquiring an additional 13,098 shares during the last quarter. Strs Ohio bought a new position in Banco Bradesco in the 1st quarter valued at $1,865,000. Goldman Sachs Group Inc. lifted its position in shares of Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after purchasing an additional 17,853,712 shares in the last quarter. Jones Financial Companies Lllp increased its stake in shares of Banco Bradesco by 3,749.8% in the 1st quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock valued at $86,000 after buying an additional 37,610 shares during the period. Finally, Millennium Management LLC raised its holdings in Banco Bradesco by 28.4% during the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock worth $15,240,000 after purchasing an additional 1,510,481 shares during the last quarter.

Banco Bradesco Company Profile

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.