Banco Bradesco (NYSE:BBD) Shares Gap Down – Time to Sell?

Banco Bradesco S.A. (NYSE:BBD)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $2.00, but opened at $1.94. Banco Bradesco shares last traded at $1.92, with a volume of 5,035,299 shares trading hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Stock Down 5.0 %

The stock has a market cap of $20.25 billion, a price-to-earnings ratio of 7.41, a PEG ratio of 0.32 and a beta of 0.94. The stock has a 50 day simple moving average of $2.37 and a 200 day simple moving average of $2.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. As a group, analysts expect that Banco Bradesco S.A. will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio is presently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA raised its stake in Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares during the period. Fisher Asset Management LLC lifted its position in shares of Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after purchasing an additional 12,228,662 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Banco Bradesco by 15.1% during the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after acquiring an additional 6,171,193 shares in the last quarter. Franklin Resources Inc. increased its holdings in shares of 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 acquiring an additional 1,139,470 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new stake in Banco Bradesco in the third quarter valued at approximately $104,542,000.

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.