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

Shares of Banco Bradesco SA (NYSE:BBD - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $3.12 and last traded at $3.10, with a volume of 38534423 shares trading hands. The stock had previously closed at $3.07.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. Bank of America upgraded shares of 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 note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. According to MarketBeat, Banco Bradesco presently has a consensus rating of "Hold" and a consensus target price of $2.40.

Banco Bradesco Stock Down 1.8%

The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 9.48, a price-to-earnings-growth ratio of 0.44 and a beta of 0.71. The firm's 50 day moving average price is $2.67 and its two-hundred day moving average price is $2.27. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. The company had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. Sell-side analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, July 9th. Stockholders of record on Thursday, June 5th will be paid a dividend of $0.0021 per share. The ex-dividend date is Wednesday, June 4th. This represents a dividend yield of 0.88%. Banco Bradesco's dividend payout ratio is presently 9.38%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of BBD. Blue Trust Inc. increased its stake in shares of Banco Bradesco by 226.1% during the 4th quarter. Blue Trust Inc. now owns 36,699 shares of the bank's stock worth $70,000 after purchasing an additional 25,445 shares during the last quarter. New York State Common Retirement Fund grew its stake in Banco Bradesco by 85.5% in the 4th quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank's stock valued at $7,519,000 after buying an additional 1,814,009 shares during the last quarter. LGT Fund Management Co Ltd. acquired a new position in Banco Bradesco in the 4th quarter valued at about $2,607,000. M&T Bank Corp grew its stake in Banco Bradesco by 38.1% in the 4th quarter. M&T Bank Corp now owns 80,241 shares of the bank's stock valued at $153,000 after buying an additional 22,150 shares during the last quarter. Finally, Raymond James Financial Inc. acquired a new position in Banco Bradesco in the 4th quarter valued at about $3,222,000.

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.