Banco Bradesco SA (NYSE:BBD)’s share price gapped up before the market opened on Tuesday . The stock had previously closed at $9.71, but opened at $9.94. Banco Bradesco shares last traded at $10.13, with a volume of 6690600 shares changing hands.
Several equities analysts have weighed in on BBD shares. ValuEngine raised shares of Banco Bradesco from a “buy” rating to a “strong-buy” rating in a report on Friday, September 1st. Scotiabank downgraded shares of Banco Bradesco from an “outperform” rating to a “sector perform” rating in a report on Tuesday, September 5th. Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and set a $12.40 price target on the stock in a report on Monday, September 11th. Finally, Zacks Investment Research downgraded shares of Banco Bradesco from a “hold” rating to a “sell” rating in a report on Tuesday, October 3rd. Two investment analysts have rated the stock with a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Banco Bradesco has an average rating of “Buy” and an average target price of $12.40.
The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 0.78. The company has a market cap of $67,538.23, a price-to-earnings ratio of 10.58, a P/E/G ratio of 1.01 and a beta of 1.72.
The business also recently announced a monthly dividend, which will be paid on Tuesday, January 9th. Stockholders of record on Tuesday, December 5th will be issued a $0.0058 dividend. This represents a $0.07 annualized dividend and a dividend yield of 0.69%. The ex-dividend date is Monday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 8.00%.
Hedge funds have recently added to or reduced their stakes in the company. State Street Corp raised its stake in Banco Bradesco by 8.7% during the second quarter. State Street Corp now owns 9,527,392 shares of the bank’s stock valued at $80,982,000 after purchasing an additional 761,609 shares in the last quarter. BT Investment Management Ltd purchased a new stake in Banco Bradesco during the second quarter valued at $22,396,000. Vanguard Group Inc. raised its stake in Banco Bradesco by 17.8% during the second quarter. Vanguard Group Inc. now owns 38,651,585 shares of the bank’s stock valued at $328,538,000 after purchasing an additional 5,844,907 shares in the last quarter. Aperio Group LLC raised its stake in Banco Bradesco by 7.5% during the third quarter. Aperio Group LLC now owns 893,427 shares of the bank’s stock valued at $9,890,000 after purchasing an additional 62,284 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in Banco Bradesco by 10.0% during the second quarter. DekaBank Deutsche Girozentrale now owns 27,390 shares of the bank’s stock valued at $229,000 after purchasing an additional 2,490 shares in the last quarter. 2.71% of the stock is currently owned by hedge funds and other institutional investors.
About Banco Bradesco
Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.
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