Banco Bradesco (NYSE:BBDO) Sets New 52-Week Low - Here's What Happened

Key Points

• Banco Bradesco shares fell 7.1%, reaching a new 52-week low of $2.58, well below their 50-day and 200-day moving averages of approximately $3.28–$3.29.
• Analyst sentiment remains mixed: Weiss Ratings upgraded the stock to “buy,” while Citigroup downgraded it to “neutral.” Overall, the shares carry a “Moderate Buy” consensus rating.
• The bank reported quarterly EPS of $0.12 on $7.75 billion in revenue and increased its monthly dividend to $0.0035 per share, equivalent to an annualized yield of about 1.6%.

Shares of Banco Bradesco SA (NYSE:BBDO - Get Free Report) hit a new 52-week low on Wednesday. The company traded as low as $2.58 and last traded at $2.5950, with a volume of 110,272 shares. The stock had previously closed at $2.76.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Weiss Ratings raised shares of Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Thursday, October 8th. Citigroup cut shares of Banco Bradesco to a "neutral" rating in a report on Tuesday. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Banco Bradesco has an average rating of "Moderate Buy".

Banco Bradesco Stock Down 7.1%

The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The stock's 50 day simple moving average is $3.29 and its two-hundred day simple moving average is $3.28. The firm has a market cap of $27.18 billion, a P/E ratio of 5.58 and a beta of 0.48.

Banco Bradesco (NYSE:BBDO - Get Free Report) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%. The business had revenue of $7.75 billion for the quarter.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be given a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, November 5th. This is an increase from Banco Bradesco's previous monthly dividend of $0.0034. Banco Bradesco's payout ratio is presently 39.13%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBDO. Park Avenue Securities LLC bought a new stake in Banco Bradesco during the third quarter valued at about $37,000. XXI Wealth LLC raised its stake in Banco Bradesco by 156.1% during the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank's stock valued at $104,000 after purchasing an additional 20,519 shares during the period. Intergy Private Wealth LLC lifted its holdings in Banco Bradesco by 44.8% in the 3rd quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank's stock worth $63,000 after purchasing an additional 6,302 shares in the last quarter. QRG Capital Management Inc. boosted its stake in Banco Bradesco by 49.2% in the 2nd quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank's stock worth $64,000 after purchasing an additional 7,068 shares during the period. Finally, Ameritas Advisory Services LLC bought a new position in Banco Bradesco in the 2nd quarter worth approximately $33,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil's largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.

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