Banco Bradesco (NYSE:BBD) Sets New 12-Month Low at $2.60

Banco Bradesco S.A. (NYSE:BBD)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $2.60 and last traded at $2.65, with a volume of 16184872 shares trading hands. The stock had previously closed at $2.66.

Analyst Upgrades and Downgrades

A number of analysts recently commented on BBD shares. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. The Goldman Sachs Group raised Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a research report on Tuesday, February 20th. Finally, Jefferies Financial Group lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Friday, February 9th.

Banco Bradesco Price Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The business has a fifty day simple moving average of $2.80 and a 200 day simple moving average of $3.04.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 6th will be issued a dividend of $0.0036 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date is Friday, May 3rd. Banco Bradesco’s dividend payout ratio is currently 14.29%.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBD. Natixis purchased a new position in shares of Banco Bradesco in the 4th quarter worth approximately $26,000. LGT Group Foundation purchased a new position in Banco Bradesco in the third quarter valued at approximately $30,000. CI Private Wealth LLC purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $32,000. TIAA Trust National Association purchased a new position in Banco Bradesco in the third quarter valued at approximately $35,000. Finally, Savvy Advisors Inc. purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $35,000.

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.