Banco Bradesco (NYSE:BBD) Shares Gap Up – Time to Buy?

Shares of Banco Bradesco S.A. (NYSE:BBD) gapped up before the market opened on Thursday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.30, with a volume of 5,346,018 shares changing hands.

Wall Street Analysts Forecast Growth

BBD has been the subject of several recent research reports. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and lowered their target price for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a report on Monday, January 13th.

Banco Bradesco Stock Up 2.7 %

The firm has a market capitalization of $24.26 billion, a P/E ratio of 7.60, a PEG ratio of 0.32 and a beta of 0.94. The firm’s fifty day moving average price is $2.11 and its 200-day moving average price is $2.24. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, equities research analysts forecast that Banco Bradesco S.A. will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, November 7th. Investors of record on Wednesday, April 2nd will be issued a dividend of $0.0398 per share. This represents a $0.48 dividend on an annualized basis and a yield of 20.92%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is presently 43.33%.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Townsquare Capital LLC acquired a new stake in Banco Bradesco during the 3rd quarter worth about $37,000. R Squared Ltd purchased a new position in Banco Bradesco during the fourth quarter valued at approximately $30,000. Traveka Wealth LLC acquired a new position in Banco Bradesco in the 4th quarter valued at approximately $31,000. Peapack Gladstone Financial Corp lifted its position in Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock worth $32,000 after buying an additional 6,000 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Banco Bradesco by 78.2% during the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after buying an additional 8,801 shares during the period.

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.