Banco Bradesco (NYSE:BBDO) Shares Gap Up to $2.50

Banco Bradesco S.A. (NYSE:BBDO) gapped up before the market opened on Friday . The stock had previously closed at $2.50, but opened at $2.58. Banco Bradesco shares last traded at $2.58, with a volume of 1,005 shares changing hands.

Banco Bradesco Price Performance

The company’s 50 day simple moving average is $2.19 and its 200 day simple moving average is $2.35. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a market cap of $27.71 billion, a P/E ratio of 11.30 and a beta of 1.14.

Banco Bradesco Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be given a $0.0032 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio is currently 8.70%.

Institutional Investors Weigh In On Banco Bradesco

An institutional investor recently raised its position in Banco Bradesco stock. QRG Capital Management Inc. increased its stake in shares of Banco Bradesco S.A. (NYSE:BBDO) by 41.2% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 16,795 shares of the bank’s stock after acquiring an additional 4,898 shares during the period. QRG Capital Management Inc.’s holdings in Banco Bradesco were worth $53,000 as of its most recent SEC filing.

About Banco Bradesco

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.