Banco Bradesco (NYSE:BBDO) Reaches New 12-Month High After Dividend Announcement

Banco Bradesco SA (NYSE:BBDO - Get Free Report) hit a new 52-week high on Tuesday after the company announced a dividend. The stock traded as high as $2.75 and last traded at $2.74, with a volume of 41350 shares changing hands. The stock had previously closed at $2.53.

The newly announced dividend which will be paid on Tuesday, February 10th. Shareholders of record on Thursday, July 3rd will be given a dividend of $0.0319 per share. This is a positive change from Banco Bradesco's previous dividend of $0.00. This represents a yield of 14.01%. The ex-dividend date is Wednesday, July 2nd. Banco Bradesco's dividend payout ratio is 6.25%.

Banco Bradesco Trading Down 0.4%

The business's 50 day simple moving average is $2.49 and its 200 day simple moving average is $2.12. The stock has a market cap of $28.10 billion, a price-to-earnings ratio of 8.25 and a beta of 0.80. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBDO - Get Free Report) last issued its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. increased its position in Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank's stock worth $1,073,000 after buying an additional 181,299 shares during the period. Aprio Wealth Management LLC bought a new position in shares of Banco Bradesco during the first quarter worth approximately $43,000. Kathmere Capital Management LLC acquired a new stake in shares of Banco Bradesco in the first quarter valued at approximately $98,000. BSW Wealth Partners boosted its stake in shares of Banco Bradesco by 29.7% in the first quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock valued at $64,000 after buying an additional 7,027 shares during the period. Finally, D Orazio & Associates Inc. acquired a new stake in Banco Bradesco during the first quarter worth approximately $26,000.

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.