Banco Bradesco (NYSE:BBD) Reaches New 12-Month Low at $2.60

Banco Bradesco S.A. (NYSE:BBD)’s stock price hit a new 52-week low during trading on Wednesday . The stock traded as low as $2.60 and last traded at $2.65, with a volume of 16184872 shares trading hands. The stock had previously closed at $2.66.

Analysts Set New Price Targets

Several research firms have recently commented on BBD. HSBC cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Jefferies Financial Group downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target on the stock in a research report on Tuesday, February 20th.

Banco Bradesco Trading Down 0.4 %

The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. The stock has a market capitalization of $28.24 billion, a P/E ratio of 12.62 and a beta of 0.95. The business’s fifty day simple moving average is $2.81 and its two-hundred day simple moving average is $3.04.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, May 9th. Investors of record on Wednesday, April 3rd will be given a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.73%. The ex-dividend date is Tuesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently added to or reduced their stakes in the company. Advisor Group Holdings Inc. raised its stake in shares of Banco Bradesco by 15.3% in the first quarter. Advisor Group Holdings Inc. now owns 47,036 shares of the bank’s stock valued at $325,000 after purchasing an additional 6,254 shares in the last quarter. Bank of Montreal Can boosted its stake in Banco Bradesco by 38.4% in the 1st quarter. Bank of Montreal Can now owns 164,575 shares of the bank’s stock valued at $767,000 after buying an additional 45,641 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in Banco Bradesco by 36.4% in the first quarter. Sequoia Financial Advisors LLC now owns 16,506 shares of the bank’s stock valued at $77,000 after acquiring an additional 4,407 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at $470,000. Finally, Prudential Financial Inc. bought a new stake in shares of Banco Bradesco in the 1st quarter worth about $57,000.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.