Banco Bradesco (NYSE:BBD) Reaches New 52-Week High - What's Next?

Key Points

• Banco Bradesco's share price recently reached a new 52-week high of $3.41 during trading, with a significant volume of 5,069,017 shares traded.
• The bank reported earnings of $0.10 per share for the last quarter, meeting analyst expectations, while its return on equity stood at 12.96%.
• A recent monthly dividend of $0.0036 per share was declared, reflecting an annualized yield of 1.3%, with a dividend payout ratio of 8.57%.

Banco Bradesco SA (NYSE:BBD - Get Free Report)'s share price hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $3.41 and last traded at $3.39, with a volume of 5069017 shares changing hands. The stock had previously closed at $3.35.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The firm has a market cap of $35.92 billion, a P/E ratio of 9.64, a PEG ratio of 0.45 and a beta of 0.76. The stock's 50 day moving average is $3.03 and its two-hundred day moving average is $2.77.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The firm had revenue of $5.87 billion during the quarter, compared to analyst estimates of $32.70 billion. As a group, equities analysts predict that Banco Bradesco SA will post 0.37 EPS for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 3rd will be issued a dividend of $0.0036 per share. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, October 3rd. Banco Bradesco's dividend payout ratio (DPR) is currently 8.57%.

Institutional Trading of Banco Bradesco

Hedge funds have recently modified their holdings of the company. Legacy Wealth Asset Management LLC boosted its holdings in shares of Banco Bradesco by 48.4% in the 1st quarter. Legacy Wealth Asset Management LLC now owns 191,831 shares of the bank's stock worth $428,000 after acquiring an additional 62,540 shares in the last quarter. Merit Financial Group LLC bought a new position in Banco Bradesco in the 1st quarter valued at $37,000. First Affirmative Financial Network boosted its stake in Banco Bradesco by 36.1% in the first quarter. First Affirmative Financial Network now owns 61,581 shares of the bank's stock worth $137,000 after purchasing an additional 16,324 shares in the last quarter. Simplicity Wealth LLC acquired a new position in Banco Bradesco in the first quarter worth $26,000. Finally, Ameliora Wealth Management Ltd. bought a new stake in shares of Banco Bradesco during the first quarter worth $45,000.

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.

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