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

Shares of Banco Bradesco S.A. (NYSE:BBD - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $2.97 and last traded at $2.97, with a volume of 83141985 shares trading hands. The stock had previously closed at $2.90.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on BBD. The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and decreased their target price for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Finally, Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $2.40.

Banco Bradesco Stock Performance

The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The business has a 50 day moving average price of $2.50 and a two-hundred day moving average price of $2.22. The stock has a market cap of $30.76 billion, a P/E ratio of 9.63, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71.

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

Banco Bradesco Cuts Dividend

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

Institutional Trading of Banco Bradesco

Hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter worth about $68,000. Blue Trust Inc. increased its stake in Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock worth $38,000 after acquiring an additional 8,801 shares during the last quarter. DAVENPORT & Co LLC bought a new stake in Banco Bradesco in the 4th quarter worth approximately $66,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Banco Bradesco by 15.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,358 shares of the bank's stock worth $510,000 after acquiring an additional 36,542 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in shares of Banco Bradesco by 9.4% during the 4th quarter. Vontobel Holding Ltd. now owns 2,925,569 shares of the bank's stock valued at $5,588,000 after acquiring an additional 251,998 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.