Banco Bradesco (NYSE:BBD) Stock Price Down 3.6% – What’s Next?

Banco Bradesco S.A. (NYSE:BBD)’s share price fell 3.6% on Wednesday . The company traded as low as $2.64 and last traded at $2.64. 10,870,570 shares traded hands during mid-day trading, a decline of 48% from the average session volume of 21,013,732 shares. The stock had previously closed at $2.74.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Down 3.3 %

The stock’s fifty day simple moving average is $2.71 and its 200-day simple moving average is $2.59. The stock has a market capitalization of $28.24 billion, a PE ratio of 11.48, a P/E/G ratio of 0.29 and a beta of 0.97. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. As a group, sell-side analysts forecast that Banco Bradesco S.A. will post 0.35 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 8th. Investors of record on Thursday, October 3rd will be issued a $0.0026 dividend. The ex-dividend date is Thursday, October 3rd. This represents a $0.03 dividend on an annualized basis and a dividend yield of 1.17%. Banco Bradesco’s dividend payout ratio (DPR) is presently 13.04%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BBD. Banco Santander S.A. lifted its stake in shares of Banco Bradesco by 348.4% during the 1st quarter. Banco Santander S.A. now owns 1,692,954 shares of the bank’s stock valued at $4,842,000 after buying an additional 1,315,380 shares in the last quarter. Boston Partners purchased a new position in shares of Banco Bradesco in the first quarter valued at $681,000. PNC Financial Services Group Inc. raised its stake in shares of Banco Bradesco by 26.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock valued at $732,000 after purchasing an additional 43,837 shares during the period. Royal London Asset Management Ltd. lifted its holdings in Banco Bradesco by 126.5% during the 4th quarter. Royal London Asset Management Ltd. now owns 93,494 shares of the bank’s stock worth $327,000 after purchasing an additional 52,211 shares in the last quarter. Finally, Daiwa Securities Group Inc. boosted its stake in Banco Bradesco by 2.9% in the 1st quarter. Daiwa Securities Group Inc. now owns 708,345 shares of the bank’s stock worth $2,026,000 after purchasing an additional 20,000 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.