Banco Bradesco (NYSE:BBD) Shares Gap Up – Still a Buy?

Banco Bradesco S.A. (NYSE:BBD) gapped up prior to trading on Tuesday . The stock had previously closed at $2.01, but opened at $2.06. Banco Bradesco shares last traded at $2.09, with a volume of 14,270,949 shares.

Wall Street Analyst Weigh In

BBD has been the topic of several recent analyst reports. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Up 5.0 %

The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The company has a market cap of $22.49 billion, a P/E ratio of 7.96, a P/E/G ratio of 0.24 and a beta of 0.94. The business’s 50 day moving average is $2.45 and its 200 day moving average is $2.49.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. As a group, equities analysts anticipate that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a dividend of $0.0033 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 11.54%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently bought and sold shares of BBD. Blue Trust Inc. increased its position in shares of Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares in the last quarter. Townsquare Capital LLC purchased a new position in Banco Bradesco during the 3rd quarter worth $37,000. Insigneo Advisory Services LLC acquired a new position in Banco Bradesco during the 2nd quarter valued at about $43,000. Mayport LLC purchased a new stake in Banco Bradesco in the second quarter valued at about $47,000. Finally, SG Americas Securities LLC acquired a new stake in Banco Bradesco in the second quarter worth about $49,000.

Banco Bradesco Company Profile

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.