Banco Bradesco (NYSE:BBDO) Hits New 12-Month Low at $2.30

Banco Bradesco S.A. (NYSE:BBDO) hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $2.30 and last traded at $2.30, with a volume of 2722 shares trading hands. The stock had previously closed at $2.33.

Banco Bradesco Stock Performance

The firm has a market capitalization of $24.53 billion, a price-to-earnings ratio of 10.99 and a beta of 1.10. The firm has a 50 day moving average price of $2.51 and a 200-day moving average price of $2.70. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.97.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be paid a $0.0033 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.71%. The ex-dividend date is Friday, May 3rd. Banco Bradesco’s payout ratio is presently 9.52%.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. QRG Capital Management Inc. increased its holdings in Banco Bradesco by 41.2% in the fourth quarter. QRG Capital Management Inc. now owns 16,795 shares of the bank’s stock valued at $53,000 after buying an additional 4,898 shares during the last quarter. Schechter Investment Advisors LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth about $63,000. Advisors Preferred LLC purchased a new position in shares of Banco Bradesco in the 4th quarter valued at about $79,000. Profund Advisors LLC acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth about $195,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new stake in Banco Bradesco during the third quarter worth approximately $364,000.

About Banco Bradesco

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.