Banco Bradesco (NYSE:BBD) Reaches New 1-Year Low – What’s Next?

Banco Bradesco SA (NYSE:BBD) reached a new 52-week low during trading on Tuesday. The stock traded as low as $2.50 and last traded at $2.4850, with a volume of 428,724 shares trading hands. The stock had previously closed at $2.56.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 29th. The Goldman Sachs Group reissued a “neutral” rating and issued a $4.20 price target on shares of Banco Bradesco in a research note on Friday, October 9th. Bradesco Corretora downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 29th. Citigroup lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. Finally, HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $4.05.

Banco Bradesco Stock Performance

The company has a quick ratio of 1.48, a current ratio of 1.72 and a debt-to-equity ratio of 2.78. The stock’s fifty day moving average is $3.57 and its two-hundred day moving average is $3.64. The firm has a market capitalization of $16.90 billion, a price-to-earnings ratio of 5.38, a P/E/G ratio of 0.48 and a beta of 0.46.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). The firm had revenue of $6.32 billion during the quarter, compared to analyst estimates of $7.52 billion. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. On average, analysts predict that Banco Bradesco SA will post 0.49 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm 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 $0.0038 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0037. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.8%. Banco Bradesco’s payout ratio is 4.35%.

Institutional Investors Weigh In On Banco Bradesco

A number of institutional investors have recently made changes to their positions in BBD. ARGA Investment Management LP boosted its position in shares of Banco Bradesco by 16.3% in the third quarter. ARGA Investment Management LP now owns 82,243,666 shares of the bank’s stock valued at $289,498,000 after acquiring an additional 11,525,758 shares during the period. Bank of America Corp DE lifted its holdings in shares of Banco Bradesco by 355.9% in the first quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after acquiring an additional 21,920,074 shares during the last quarter. Amundi lifted its stake in Banco Bradesco by 20.0% in the 1st quarter. Amundi now owns 24,583,083 shares of the bank’s stock valued at $89,728,000 after purchasing an additional 4,099,099 shares during the last quarter. Sei Investments Co. boosted its position in Banco Bradesco by 3.4% in the first quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after buying an additional 641,744 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its position in Banco Bradesco by 103.9% in the first quarter. Renaissance Technologies LLC now owns 12,315,995 shares of the bank’s stock valued at $44,953,000 after buying an additional 6,276,800 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.