Banco Bradesco (NYSE:BBD) Shares Gap Down – What’s Next?

Banco Bradesco S.A. (NYSE:BBD)’s share price gapped down before the market opened on Thursday . The stock had previously closed at $1.93, but opened at $1.89. Banco Bradesco shares last traded at $1.91, with a volume of 1,078,734 shares changing hands.

Analysts Set New Price Targets

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

Banco Bradesco Price Performance

The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $20.54 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 0.32 and a beta of 0.94. The stock has a 50 day moving average of $2.28 and a 200 day moving average of $2.45.

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

Banco Bradesco Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Monday, August 11th. Shareholders of record on Friday, January 3rd will be issued a dividend of $0.0362 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

Institutional Investors Weigh In On Banco Bradesco

Several large investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its position in shares of Banco Bradesco by 2.6% during the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock worth $120,122,000 after buying an additional 1,139,470 shares during the period. State Street Corp boosted 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 acquiring an additional 6,551,698 shares during the period. Sei Investments Co. grew its stake in shares of Banco Bradesco by 1.9% in the second quarter. Sei Investments Co. now owns 21,780,190 shares of the bank’s stock worth $48,788,000 after purchasing an additional 411,616 shares in the last quarter. Marshall Wace LLP raised its stake in shares of Banco Bradesco by 6,437.5% during the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after purchasing an additional 7,783,248 shares in the last quarter. Finally, Oaktree Fund Advisors LLC lifted its holdings in Banco Bradesco by 1.0% in the second quarter. Oaktree Fund Advisors LLC now owns 3,724,611 shares of the bank’s stock worth $8,343,000 after purchasing an additional 35,111 shares during the period.

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.