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

Key Points

• Banco Bradesco shares reached a new 52-week high of $2.91, with a last traded price of $2.89 and a trading volume of 9,477 shares.
• The bank has announced a monthly dividend of $0.0032, representing a 1.4% dividend yield, with a payout ratio of 5.71%.
• Institutional investors have been actively increasing their stakes in Banco Bradesco, with Goldman Sachs notably raising its position by 54.2% in the first quarter.

Shares of Banco Bradesco SA (NYSE:BBDO - Get Free Report) hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $2.91 and last traded at $2.89, with a volume of 9477 shares. The stock had previously closed at $2.88.

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 company has a 50 day simple moving average of $2.61 and a 200-day simple moving average of $2.41. The stock has a market cap of $30.71 billion, a P/E ratio of 8.25 and a beta of 0.84.

Banco Bradesco (NYSE:BBDO - Get Free Report) last released its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, November 10th. Stockholders of record on Friday, October 3rd will be paid a $0.0032 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, October 3rd. Banco Bradesco's payout ratio is 5.71%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its stake in shares of Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank's stock valued at $1,073,000 after acquiring an additional 181,299 shares during the last quarter. Northern Trust Corp lifted its stake in shares of Banco Bradesco by 8.9% in the 4th quarter. Northern Trust Corp now owns 117,991 shares of the bank's stock valued at $211,000 after acquiring an additional 9,627 shares during the last quarter. Kathmere Capital Management LLC purchased a new position in Banco Bradesco during the 1st quarter valued at about $98,000. BSW Wealth Partners raised its position in Banco Bradesco by 29.7% during the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock valued at $64,000 after purchasing an additional 7,027 shares during the last quarter. Finally, Aprio Wealth Management LLC bought a new position in Banco Bradesco during the 1st quarter valued at approximately $43,000.

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.

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