Banco Bradesco (NYSE:BBDO) Shares Gap Down – What’s Next?

Banco Bradesco SA (NYSE:BBDO)’s share price gapped down before the market opened on Wednesday . The stock had previously closed at $3.23, but opened at $3.07. Banco Bradesco shares last traded at $3.04, with a volume of 13,183 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Banco Bradesco Price Performance

The stock has a market capitalization of $32.32 billion, a price-to-earnings ratio of 7.82 and a beta of 0.55. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50 day moving average of $3.34 and a 200 day moving average of $3.27.

Banco Bradesco (NYSE:BBDO) last released its earnings results on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.The firm had revenue of $13.07 billion during the quarter.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.0035 per share. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, June 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is presently 7.69%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Intergy Private Wealth LLC acquired a new position in Banco Bradesco during the 4th quarter worth $30,000. Cetera Investment Advisers purchased a new position in Banco Bradesco in the fourth quarter valued at $32,000. Renaissance Technologies LLC purchased a new position in Banco Bradesco in the fourth quarter valued at $34,000. Compound Planning Inc. purchased a new position in Banco Bradesco in the third quarter valued at $35,000. Finally, Tocqueville Asset Management L.P. purchased a new position in Banco Bradesco in the fourth quarter valued at $37,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.