Banco Bradesco (NYSE:BBD) Trading Up 4.2% - Still a Buy?

Key Points

• Banco Bradesco shares rose 4.2% to $3.5750, despite trading volume being 74% below its average daily level.
• Analyst sentiment remains cautiously positive: one analyst rates the stock Buy and another Hold, resulting in a MarketBeat consensus of “Moderate Buy.” Weiss Ratings recently downgraded the shares from Buy to Hold.
• The bank reported quarterly EPS of $0.12 on $6.77 billion in revenue and increased its monthly dividend to $0.0037 per share, representing an annualized yield of about 1.3%.

Banco Bradesco SA (NYSE:BBD - Get Free Report)'s stock price rose 4.2% during trading on Thursday . The company traded as high as $3.56 and last traded at $3.5750. 9,169,181 shares traded hands during mid-day trading, a decline of 74% from the average session volume of 35,144,758 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy".

Banco Bradesco Trading Up 3.9%

The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a market cap of $37.78 billion, a P/E ratio of 8.49, a P/E/G ratio of 0.43 and a beta of 0.52. The company has a 50-day simple moving average of $3.42 and a 200-day simple moving average of $3.59.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its 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. On average, sell-side analysts forecast that Banco Bradesco SA will post 0.5 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.0037 per share. The ex-dividend date of this dividend is Thursday, September 3rd. This represents a c) dividend on an annualized basis and a yield of 1.3%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is currently 7.14%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. EverSource Wealth Advisors LLC lifted its position in shares of Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock worth $27,000 after purchasing an additional 4,353 shares in the last quarter. Brooklyn Investment Group raised its position in Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank's stock worth $36,000 after purchasing an additional 9,842 shares during the last quarter. Global Wealth Strategies & Associates bought a new position in Banco Bradesco in the 2nd quarter worth approximately $38,000. Wayfinding Financial LLC acquired a new position in Banco Bradesco during the 2nd quarter worth $40,000. Finally, Ballentine Partners LLC acquired a new position in Banco Bradesco during the 4th quarter worth $41,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.

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