Banco Bradesco (NYSE:BBDO) Sets New 12-Month High – Still a Buy?

Shares of Banco Bradesco SA (NYSE:BBDO) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $3.64 and last traded at $3.6150, with a volume of 41606 shares. The stock had previously closed at $3.48.

Analysts Set New Price Targets

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

Banco Bradesco Stock Performance

The stock’s 50 day moving average is $3.05 and its two-hundred day moving average is $2.86. The firm has a market capitalization of $37.03 billion, a P/E ratio of 10.33 and a beta of 0.60. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12.

Banco Bradesco Increases Dividend

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

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently added to or reduced their stakes in BBDO. Ritholtz Wealth Management acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $30,000. Farther Finance Advisors LLC grew its holdings in Banco Bradesco by 5,542.4% during the second quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after purchasing an additional 10,974 shares during the period. Intergy Private Wealth LLC bought a new stake in Banco Bradesco in the fourth quarter valued at approximately $30,000. Compound Planning Inc. acquired a new stake in Banco Bradesco in the third quarter worth $35,000. Finally, Savant Capital LLC bought a new position in shares of Banco Bradesco during the second quarter worth $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.