Banco Bradesco (NYSE:BBDO) Shares Gap Down – Should You Sell?

Banco Bradesco SA (NYSE:BBDO) shares gapped down before the market opened on Wednesday. The stock had previously closed at $3.94, but opened at $3.75. Banco Bradesco shares last traded at $3.60, with a volume of 48,944 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating. According to MarketBeat, the company has a consensus rating of “Buy”.

Banco Bradesco Trading Down 8.4%

The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a fifty day moving average of $3.22 and a 200-day moving average of $3.22. The firm has a market capitalization of $37.18 billion, a PE ratio of 8.46 and a beta of 0.48.

Banco Bradesco Announces Dividend

The company also recently announced a special dividend, which will be paid on Monday, May 10th. Shareholders of record on Thursday, October 15th will be paid a $0.0662 dividend. The ex-dividend date is Thursday, October 15th. Banco Bradesco’s payout ratio is 7.14%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. QRG Capital Management Inc. boosted its holdings in Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after purchasing an additional 7,068 shares in the last quarter. Ameritas Advisory Services LLC acquired a new position in Banco Bradesco during the second quarter worth $33,000. Royal Bank of Canada increased its position in Banco Bradesco by 307.2% during the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock worth $67,000 after buying an additional 15,180 shares during the last quarter. Renaissance Technologies LLC increased its position in Banco Bradesco by 198.9% during the first quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock worth $115,000 after buying an additional 23,289 shares during the last quarter. Finally, Cetera Investment Advisers raised its holdings in Banco Bradesco by 160.5% during the first quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after buying an additional 18,168 shares in the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.