Banco Bradesco (NYSE:BBD) Trading Down 7.1% – What’s Next?

Banco Bradesco S.A. (NYSE:BBD)’s share price was down 7.1% during trading on Wednesday . The company traded as low as $2.03 and last traded at $2.02. Approximately 9,568,233 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 50,350,438 shares. The stock had previously closed at $2.17.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBD. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research note on Monday, January 13th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and dropped their price target for the company from $2.40 to $2.00 in a research report on Wednesday.

Banco Bradesco Trading Up 0.7 %

The company has a fifty day moving average of $1.99 and a two-hundred day moving average of $2.38. 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 stock has a market capitalization of $22.30 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 0.28 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, research analysts expect that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be issued a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.88%. The ex-dividend date is Friday, March 7th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is currently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently modified their holdings of the business. Blue Trust Inc. boosted its stake in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares in the last quarter. R Squared Ltd purchased a new stake in shares of Banco Bradesco during the 4th quarter worth $30,000. Traveka Wealth LLC acquired a new position in shares of Banco Bradesco during the 4th quarter worth $31,000. Peapack Gladstone Financial Corp increased its holdings in shares of Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after purchasing an additional 6,000 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new stake in shares of Banco Bradesco in the third quarter valued at about $37,000.

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.