Banco Bradesco (NYSE:BBD) Hits New 1-Year Low - Time to Sell?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report)'s share price hit a new 52-week low during mid-day trading on Monday . The company traded as low as $2.01 and last traded at $2.01, with a volume of 101817 shares. The stock had previously closed at $2.02.

Analysts Set New Price Targets

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating and boosted their target price for the company from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $21.05 billion, a P/E ratio of 7.60, a PEG ratio of 0.32 and a beta of 0.94. The stock has a 50-day simple moving average of $2.39 and a 200-day simple moving average of $2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Research analysts forecast that Banco Bradesco S.A. will post 0.33 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be issued 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 annualized dividend and a dividend yield of 2.01%. Banco Bradesco's dividend payout ratio is 11.54%.

Institutional Investors Weigh In On Banco Bradesco

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