Banco Bradesco (NYSE:BBDO) Shares Up 3.8% – What’s Next?

Banco Bradesco SA (NYSE:BBDO) shot up 3.8% on Tuesday . The company traded as high as $3.13 and last traded at $3.1050. Approximately 5,332 shares were traded during trading, a decline of 93% from the average session volume of 77,133 shares. The stock had previously closed at $2.99.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Banco Bradesco Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm’s 50-day moving average price is $3.11 and its two-hundred day moving average price is $3.24. The stock has a market cap of $32.69 billion, a PE ratio of 7.35 and a beta of 0.54.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be given a $0.0034 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 7.14%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Franklin Resources Inc. raised its holdings in Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after purchasing an additional 47,370,132 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in shares of Banco Bradesco by 79.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock worth $8,803,000 after buying an additional 1,360,089 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after acquiring an additional 181,299 shares in the last quarter. Ritholtz Wealth Management raised its stake in shares of Banco Bradesco by 202.8% during the 1st quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock worth $716,000 after acquiring an additional 145,684 shares in the last quarter. Finally, Kathmere Capital Management LLC lifted its position in Banco Bradesco by 33.5% during the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock valued at $861,000 after acquiring an additional 65,621 shares during the last quarter.

Banco Bradesco Company Profile

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.