Banco Bradesco (NYSE:BBD) Sees Large Volume Increase

Banco Bradesco S.A. (NYSE:BBD) shares saw strong trading volume on Monday . 2,776,044 shares traded hands during mid-day trading, a decline of 90% from the previous session’s volume of 27,290,350 shares.The stock last traded at $3.81 and had previously closed at $3.80.

A number of equities analysts recently weighed in on the company. Zacks Investment Research lowered Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Friday, August 6th. Scotiabank lowered Banco Bradesco from an “outperform” rating to a “sector perform” rating in a research report on Wednesday, July 7th. Finally, Itau BBA Securities lowered Banco Bradesco from an “outperform” rating to a “market perform” rating and set a $4.40 price target for the company. in a research report on Monday, September 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.70.

The company has a fifty day moving average price of $4.33 and a 200-day moving average price of $4.64. The company has a current ratio of 1.51, a quick ratio of 0.62 and a debt-to-equity ratio of 1.24. The firm has a market capitalization of $37.71 billion, a price-to-earnings ratio of 9.44 and a beta of 0.93.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, August 3rd. The bank reported $0.13 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.12 by $0.01. Banco Bradesco had a return on equity of 17.20% and a net margin of 20.84%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.66 billion. As a group, sell-side analysts predict that Banco Bradesco S.A. will post 0.49 EPS for the current fiscal year.

The firm also recently declared a monthly dividend, which will be paid on Monday, November 8th. Shareholders of record on Tuesday, October 5th will be given a $0.0035 dividend. This represents a $0.04 annualized dividend and a yield of 1.09%. The ex-dividend date is Monday, October 4th. Banco Bradesco’s dividend payout ratio is currently 8.11%.

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Cresset Asset Management LLC increased its position in Banco Bradesco by 10.0% in the 2nd quarter. Cresset Asset Management LLC now owns 25,303 shares of the bank’s stock worth $130,000 after buying an additional 2,297 shares during the period. Guggenheim Capital LLC increased its position in shares of Banco Bradesco by 9.7% during the first quarter. Guggenheim Capital LLC now owns 26,578 shares of the bank’s stock valued at $125,000 after purchasing an additional 2,351 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Banco Bradesco by 15.0% during the second quarter. PNC Financial Services Group Inc. now owns 22,085 shares of the bank’s stock valued at $113,000 after purchasing an additional 2,877 shares during the period. Ethic Inc. increased its position in shares of Banco Bradesco by 9.9% during the second quarter. Ethic Inc. now owns 32,984 shares of the bank’s stock valued at $169,000 after purchasing an additional 2,973 shares during the period. Finally, Clear Harbor Asset Management LLC increased its position in shares of Banco Bradesco by 10.0% during the second quarter. Clear Harbor Asset Management LLC now owns 33,083 shares of the bank’s stock valued at $170,000 after purchasing an additional 3,007 shares during the period. 2.37% of the stock is currently owned by institutional investors.

Banco Bradesco Company Profile (NYSE:BBD)

Banco Bradesco SA engages in the provision of financial and insurance services. It operates through Banking, and Insurance segments. The Banking segment includes banking activities. The Insurance segment covers auto, health, life, accident and property insurance, and pension plans aw well as capitalization bonds.

Further Reading: 52-week highs

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