Banco Bradesco (NYSE:BBD) Sets New 1-Year High - Time to Buy?

Key Points

• Banco Bradesco shares surged 19.6% to $4.34, reaching a new 52-week high, with trading volume exceeding 15 million shares.
• Analyst sentiment remains cautiously positive: the stock has a consensus rating of “Moderate Buy”, although Weiss Ratings recently downgraded it from “buy” to “hold.”
• The bank reported quarterly EPS of $0.12 on $6.77 billion in revenue and announced a special dividend of $0.0728 per share, while several institutional investors initiated new positions.

Banco Bradesco SA (NYSE:BBD - Get Free Report) shares hit a new 52-week high during mid-day trading on Monday. The stock traded as high as $4.34 and last traded at $4.3250, with a volume of 15099541 shares. The stock had previously closed at $3.65.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy".

Banco Bradesco Trading Up 19.6%

The business's 50-day simple moving average is $3.39 and its two-hundred day simple moving average is $3.54. The firm has a market capitalization of $46.26 billion, a price-to-earnings ratio of 10.39, a PEG ratio of 0.56 and a beta of 0.46. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The company had revenue of $6.77 billion for the quarter. Equities analysts forecast that Banco Bradesco SA will post 0.5 earnings per share for the current year.

Banco Bradesco Dividend Announcement

The company also recently announced a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be issued a dividend of $0.0728 per share. The ex-dividend date is Thursday, October 15th. Banco Bradesco's dividend payout ratio (DPR) is 7.14%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Global Wealth Strategies & Associates acquired a new position in shares of Banco Bradesco during the second quarter worth about $38,000. Wayfinding Financial LLC purchased a new position in Banco Bradesco in the second quarter worth approximately $40,000. Diversify Wealth Management LLC acquired a new position in Banco Bradesco during the 1st quarter worth approximately $43,000. Tenzing Financial LLC acquired a new position in Banco Bradesco during the 4th quarter worth approximately $48,000. Finally, Modern Wealth Management LLC purchased a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $55,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.

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