Shares of Banco Bradesco SA (NYSE:BBD) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $11.09 and last traded at $11.09, with a volume of 6,720,218 shares changing hands. The stock had previously closed at $11.04.

Several analysts recently issued reports on the company. ValuEngine downgraded Banco Bradesco SA from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. BidaskClub downgraded Banco Bradesco SA from a “buy” rating to a “hold” rating in a report on Friday, June 23rd. Finally, Scotiabank downgraded Banco Bradesco SA from an “outperform” rating to a “sector perform” rating in a report on Tuesday. Three investment analysts have rated the stock with a hold rating, one has given a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $10.65.

The firm has a market capitalization of $66.87 billion, a P/E ratio of 12.05 and a beta of 1.75. The firm’s 50 day moving average is $10.20 and its 200 day moving average is $9.35.

The company also recently announced a special dividend, which will be paid on Thursday, October 12th. Investors of record on Thursday, September 7th will be issued a $0.006 dividend. This represents a yield of 0.65%. The ex-dividend date of this dividend is Wednesday, September 6th. This is an increase from Banco Bradesco SA’s previous special dividend of $0.01. Banco Bradesco SA’s dividend payout ratio (DPR) is 7.86%.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Aberdeen Asset Management PLC UK raised its holdings in Banco Bradesco SA by 20.1% in the 2nd quarter. Aberdeen Asset Management PLC UK now owns 180,676,024 shares of the bank’s stock worth $1,535,746,000 after acquiring an additional 30,239,397 shares during the period. BlackRock Inc. raised its holdings in Banco Bradesco SA by 3.1% in the 2nd quarter. BlackRock Inc. now owns 40,489,056 shares of the bank’s stock worth $344,157,000 after acquiring an additional 1,234,324 shares during the period. Vanguard Group Inc. raised its holdings in Banco Bradesco SA by 17.8% in the 2nd quarter. Vanguard Group Inc. now owns 38,651,585 shares of the bank’s stock worth $328,538,000 after acquiring an additional 5,844,907 shares during the period. Franklin Resources Inc. raised its holdings in Banco Bradesco SA by 35.8% in the 2nd quarter. Franklin Resources Inc. now owns 25,959,687 shares of the bank’s stock worth $220,639,000 after acquiring an additional 6,842,060 shares during the period. Finally, Harding Loevner LP raised its holdings in Banco Bradesco SA by 11.4% in the 2nd quarter. Harding Loevner LP now owns 23,590,604 shares of the bank’s stock worth $200,520,000 after acquiring an additional 2,414,918 shares during the period. Hedge funds and other institutional investors own 2.65% of the company’s stock.

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Banco Bradesco SA Company Profile

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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