Banco Bradesco (NYSE:BBD) Reaches New 52-Week Low – Time to Sell?

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. The stock had previously closed at $2.56.

Analyst Upgrades and Downgrades

A number of brokerages have commented on BBD. HSBC downgraded 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. The Goldman Sachs Group reissued a “neutral” rating and issued a $4.20 target price on shares of Banco Bradesco in a report on Friday, October 9th. Wall Street Zen raised Banco Bradesco to a “hold” rating in a report on Saturday, October 17th. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Finally, Citigroup cut Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Tuesday, October 27th. One investment analyst has rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $4.05.

Banco Bradesco Trading Up 4.3%

The company has a debt-to-equity ratio of 2.78, a current ratio of 1.72 and a quick ratio of 1.72. The company has a market capitalization of $27.24 billion, a price-to-earnings ratio of 5.15, a price-to-earnings-growth ratio of 0.44 and a beta of 0.56. The business’s 50 day simple moving average is $3.54 and its 200 day simple moving average is $3.63.

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

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be given a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.8%. 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. Banco Bradesco’s payout ratio is 43.48%.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of BBD. rebel Financial LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth $38,000. Global Wealth Strategies & Associates acquired a new stake in shares of Banco Bradesco in the second quarter valued at about $38,000. Diversify Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the first quarter valued at about $43,000. Wayfinding Financial LLC purchased a new stake in Banco Bradesco during the second quarter worth about $40,000. Finally, Modern Wealth Management LLC purchased a new stake in Banco Bradesco during the first quarter worth about $55,000.

Banco Bradesco Company Profile

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.