Banco Bradesco (NYSE:BBDO) Hits New 12-Month High – Should You Buy?

Shares of Banco Bradesco SA (NYSE:BBDO) hit a new 52-week high during trading on Thursday . The company traded as high as $3.34 and last traded at $3.35, with a volume of 10463 shares trading hands. The stock had previously closed at $3.28.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco has an average rating of “Buy”.

Banco Bradesco Trading Up 3.6%

The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. The stock has a market cap of $35.65 billion, a price-to-earnings ratio of 9.91 and a beta of 0.60. The business has a 50-day simple moving average of $3.04 and a two-hundred day simple moving average of $2.84.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Stockholders of record on Wednesday, February 4th will be issued a $0.0032 dividend. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, February 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 5.71%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of BBDO. Intergy Private Wealth LLC bought a new stake in shares of Banco Bradesco during the 4th quarter worth approximately $30,000. Ritholtz Wealth Management bought a new stake in Banco Bradesco during the second quarter worth $30,000. Farther Finance Advisors LLC lifted its stake in Banco Bradesco by 5,542.4% in the second quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after acquiring an additional 10,974 shares during the last quarter. Compound Planning Inc. acquired a new stake in Banco Bradesco in the third quarter valued at $35,000. Finally, Savant Capital LLC bought a new position in shares of Banco Bradesco in the 2nd quarter valued at about $51,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.