Banco Bradesco (NYSE:BBD) Shares Gap Up – Time to Buy?

Banco Bradesco S.A. (NYSE:BBD)’s share price gapped up prior to trading on Tuesday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.33, with a volume of 5,979,165 shares.

Analyst Ratings Changes

BBD has been the topic of a number of research reports. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. Finally, HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

Banco Bradesco Stock Performance

The firm has a market cap of $24.96 billion, a P/E ratio of 7.82, a PEG ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The stock’s 50 day moving average is $2.07 and its two-hundred day moving average is $2.26.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, equities analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be given a $0.0398 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 dividend on an annualized basis and a yield of 20.34%. Banco Bradesco’s payout ratio is 6.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBD. Franklin Resources Inc. raised its position in Banco Bradesco by 2.6% in the 3rd quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock valued at $120,122,000 after purchasing an additional 1,139,470 shares during the last quarter. New York State Common Retirement Fund raised its holdings in shares of Banco Bradesco by 85.5% in the fourth quarter. New York State Common Retirement Fund now owns 3,936,542 shares of the bank’s stock valued at $7,519,000 after buying an additional 1,814,009 shares during the last quarter. State Street Corp lifted its position in Banco Bradesco by 71.0% during the 3rd quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock worth $42,715,000 after buying an additional 6,551,698 shares in the last quarter. DAVENPORT & Co LLC bought a new stake in Banco Bradesco during the 4th quarter worth about $66,000. Finally, Banco Santander S.A. increased its position in Banco Bradesco by 402.4% in the 4th quarter. Banco Santander S.A. now owns 1,802,819 shares of the bank’s stock valued at $3,443,000 after acquiring an additional 1,443,986 shares in the last quarter.

About Banco Bradesco

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.