Banco Bradesco (NYSE:BBD) Shares Gap Down to $2.88

Banco Bradesco S.A. (NYSE:BBD)’s stock price gapped down prior to trading on Thursday . The stock had previously closed at $2.88, but opened at $2.82. Banco Bradesco shares last traded at $2.83, with a volume of 99,863 shares.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Trading Up 2.5 %

The firm has a market cap of $30.59 billion, a price-to-earnings ratio of 12.48, a PEG ratio of 0.24 and a beta of 0.98. The company has a fifty day moving average price of $2.41 and a 200-day moving average price of $2.60. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54.

Banco Bradesco Announces Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be given a $0.0035 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 13.04%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Raymond James & Associates boosted its position in Banco Bradesco by 23.4% during the fourth quarter. Raymond James & Associates now owns 110,233 shares of the bank’s stock worth $386,000 after acquiring an additional 20,887 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Banco Bradesco by 39.3% in the fourth quarter. Cerity Partners LLC now owns 52,003 shares of the bank’s stock valued at $182,000 after purchasing an additional 14,684 shares during the period. Lindbrook Capital LLC boosted its holdings in Banco Bradesco by 120.5% in the 4th quarter. Lindbrook Capital LLC now owns 13,510 shares of the bank’s stock valued at $47,000 after purchasing an additional 7,382 shares during the last quarter. Signaturefd LLC grew its stake in shares of Banco Bradesco by 10.8% in the 4th quarter. Signaturefd LLC now owns 95,701 shares of the bank’s stock valued at $335,000 after buying an additional 9,298 shares during the period. Finally, Gould Asset Management LLC CA raised its position in shares of Banco Bradesco by 7.3% during the 4th quarter. Gould Asset Management LLC CA now owns 53,509 shares of the bank’s stock valued at $187,000 after buying an additional 3,640 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.