Banco Bradesco (NYSE:BBD) Reaches New 12-Month Low – Should You Sell?

Banco Bradesco S.A. (NYSE:BBD)’s stock price hit a new 52-week low on Monday . The stock traded as low as $2.01 and last traded at $2.01, with a volume of 62761745 shares traded. The stock had previously closed at $2.05.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Stock Performance

The company has a market cap of $21.42 billion, a price-to-earnings ratio of 7.73, a PEG ratio of 0.24 and a beta of 0.94. The firm has a 50 day simple moving average of $2.45 and a 200-day simple moving average of $2.49. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. As a group, analysts predict that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.97%. Banco Bradesco’s payout ratio is currently 11.54%.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently made changes to their positions in BBD. Massachusetts Financial Services Co. MA increased its holdings in shares of Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock valued at $233,988,000 after purchasing an additional 55,444,555 shares in the last quarter. Fisher Asset Management LLC lifted its position in shares of Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after acquiring an additional 12,228,662 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Banco Bradesco by 15.1% during the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after purchasing an additional 6,171,193 shares during the last quarter. Franklin Resources Inc. grew its stake in Banco Bradesco by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after acquiring an additional 1,139,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in Banco Bradesco in the third quarter valued at $104,542,000.

Banco Bradesco Company Profile

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.