Banco Bradesco (NYSE:BBDO) Shares Up 4.5% – Time to Buy?

Banco Bradesco SA (NYSE:BBDO)’s share price was up 4.5% on Friday . The stock traded as high as $3.16 and last traded at $3.1760. 1,865 shares traded hands during trading, a decline of 97% from the average session volume of 73,550 shares. The stock had previously closed at $3.04.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy”.

Banco Bradesco Price Performance

The stock has a 50 day moving average of $3.08 and a two-hundred day moving average of $3.26. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The stock has a market cap of $33.79 billion, a PE ratio of 8.16 and a beta of 0.56.

Banco Bradesco (NYSE:BBDO) last issued its quarterly earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.The business had revenue of $13.07 billion for the quarter.

Banco Bradesco Dividend Announcement

The firm also recently announced a dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, July 7th will be paid a $0.0609 dividend. The ex-dividend date is Tuesday, July 7th. This represents a yield of 408.0%. Banco Bradesco’s payout ratio is 20.51%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors have recently bought and sold shares of the stock. Intergy Private Wealth LLC acquired a new stake in shares of Banco Bradesco in the fourth quarter worth about $30,000. Cetera Investment Advisers bought a new position in shares of Banco Bradesco in the 4th quarter valued at approximately $32,000. Renaissance Technologies LLC bought a new stake in Banco Bradesco during the fourth quarter worth approximately $34,000. Tocqueville Asset Management L.P. bought a new stake in Banco Bradesco during the fourth quarter worth approximately $37,000. Finally, SmartHarvest Portfolios LLC acquired a new position in Banco Bradesco during the fourth quarter valued at approximately $39,000.

Banco Bradesco Company Profile

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.