Banco Bradesco (NYSE:BBD) Trading 4.2% Higher – Still a Buy?

Shares of Banco Bradesco SA (NYSE:BBD) rose 4.2% on Thursday . The company traded as high as $3.56 and last traded at $3.5750. Approximately 9,169,181 shares changed hands during trading, a decline of 74% from the average session volume of 35,144,758 shares. The stock had previously closed at $3.43.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy”.

Banco Bradesco Price Performance

The company’s fifty day moving average is $3.42 and its two-hundred day moving average is $3.59. The firm has a market capitalization of $37.78 billion, a price-to-earnings ratio of 8.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. Equities research analysts anticipate that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be given a $0.0037 dividend. The ex-dividend date is Thursday, September 3rd. This represents a c) annualized dividend and a dividend yield of 1.3%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 7.14%.

Institutional Investors Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBD. EverSource Wealth Advisors LLC lifted its stake in Banco Bradesco by 100.5% in the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after buying an additional 4,353 shares during the period. Brooklyn Investment Group grew its position in shares of Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after buying an additional 9,842 shares during the period. Global Wealth Strategies & Associates acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $38,000. Wayfinding Financial LLC acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $40,000. Finally, Ballentine Partners LLC bought a new stake in shares of Banco Bradesco in the 4th quarter valued at about $41,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.