Shares of Banco Bradesco SA (NYSE:BBDO – Get Free Report) traded down 24.3% during mid-day trading on Monday. The company traded as low as $3.15 and last traded at $2.7790. Approximately 28,056 shares were traded during mid-day trading, a decline of 64% from the average session volume of 78,260 shares. The stock had previously closed at $3.67.
Analyst Ratings Changes
Separately, Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.
Banco Bradesco Stock Down 26.0%
The firm has a market capitalization of $28.77 billion, a price-to-earnings ratio of 5.91 and a beta of 0.48. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a fifty day moving average price of $3.31 and a 200 day moving average price of $3.24.
Banco Bradesco (NYSE:BBDO – Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 earnings per share for the quarter. The firm had revenue of $7.75 billion during the quarter. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%.
Banco Bradesco Increases Dividend
The company also recently announced a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be given a $0.0035 dividend. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, November 5th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0034. Banco Bradesco’s dividend payout ratio is presently 39.13%.
Institutional Trading of Banco Bradesco
Several institutional investors have recently added to or reduced their stakes in the stock. SmartHarvest Portfolios LLC grew its position in Banco Bradesco by 21.2% in the 1st quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock valued at $54,000 after purchasing an additional 2,863 shares during the period. Intergy Private Wealth LLC boosted its stake in Banco Bradesco by 44.8% during the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock valued at $63,000 after buying an additional 6,302 shares during the period. QRG Capital Management Inc. increased its position in shares of Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after purchasing an additional 7,068 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter valued at $33,000. Finally, Royal Bank of Canada increased its stake in Banco Bradesco by 307.2% in the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after acquiring an additional 15,180 shares during the last quarter.
Banco Bradesco Company Profile
Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.
The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.
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