Banco Bradesco (NYSE:BBDO) Reaches New 1-Year High - Still a Buy?

Key Points

• Banco Bradesco shares reached a new 52-week high, trading as high as $4.16 before closing near $4.005, well above its 50-day and 200-day moving averages of roughly $3.20.
• Weiss Ratings upgraded the stock from “hold” to “buy,” contributing to a consensus “Buy” rating from the one analyst covering the company.
• Bradesco declared a special dividend of $0.0662 per share, with a stated payout ratio of 42.86%; several institutional investors also increased their positions.

Shares of Banco Bradesco SA (NYSE:BBDO - Get Free Report) reached a new 52-week high on Monday. The stock traded as high as $4.16 and last traded at $4.0050, with a volume of 16,301 shares traded. The stock had previously closed at $3.92.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday. One equities research analyst has rated the stock with a Buy rating. According to data from MarketBeat.com, Banco Bradesco currently has a consensus rating of "Buy".

Banco Bradesco Stock Performance

The stock's 50 day moving average is $3.20 and its two-hundred day moving average is $3.21. The firm has a market capitalization of $41.91 billion, a P/E ratio of 9.42 and a beta of 0.48. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48.

Banco Bradesco Announces Dividend

The business also recently declared a special dividend, which will be paid on Monday, May 10th. Stockholders of record on Thursday, October 15th will be given a $0.0662 dividend. The ex-dividend date is Thursday, October 15th. Banco Bradesco's dividend payout ratio (DPR) is currently 42.86%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently modified their holdings of BBDO. Kathmere Capital Management LLC boosted its stake in Banco Bradesco by 33.5% during the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank's stock worth $861,000 after acquiring an additional 65,621 shares during the last quarter. Ritholtz Wealth Management grew its holdings in Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank's stock valued at $716,000 after purchasing an additional 145,684 shares during the period. Renaissance Technologies LLC increased its stake in Banco Bradesco by 198.9% in the first quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank's stock valued at $115,000 after purchasing an additional 23,289 shares in the last quarter. Cetera Investment Advisers increased its position in shares of Banco Bradesco by 160.5% in the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank's stock valued at $97,000 after buying an additional 18,168 shares in the last quarter. Finally, QRG Capital Management Inc. lifted its holdings in Banco Bradesco by 49.2% during the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank's stock worth $64,000 after acquiring an additional 7,068 shares in the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.

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