Shares of Banco Bradesco SA (NYSE:BBDO – Get Free Report) dropped 4.1% during trading on Monday . The company traded as low as $3.29 and last traded at $3.30. Approximately 35,629 shares were traded during mid-day trading, a decline of 54% from the average session volume of 76,688 shares. The stock had previously closed at $3.44.
Wall Street Analyst Weigh In
Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has an average rating of “Hold”.
Get Our Latest Stock Analysis on BBDO
Banco Bradesco Stock Up 0.8%
Banco Bradesco (NYSE:BBDO – Get Free Report) last released its earnings results on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $13.07 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.
Banco Bradesco Cuts Dividend
The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.0034 per share. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s payout ratio is presently 20.51%.
Institutional Inflows and Outflows
Several institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after purchasing an additional 47,370,132 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its holdings in Banco Bradesco by 79.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after acquiring an additional 1,360,089 shares during the period. Goldman Sachs Group Inc. boosted its position in Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after purchasing an additional 181,299 shares in the last quarter. Kathmere Capital Management LLC increased its holdings in shares of Banco Bradesco by 33.5% during the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock valued at $861,000 after purchasing an additional 65,621 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock worth $716,000 after buying an additional 145,684 shares in the last quarter.
Banco Bradesco Company Profile
Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.
The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.
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