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

Banco Bradesco S.A. (NYSE:BBD) shares gapped down prior to trading 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 trading hands.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock 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 $20.22 billion, a price-to-earnings ratio of 7.31, a P/E/G ratio of 0.32 and a beta of 0.94. The business has a 50-day moving average price of $2.25 and a 200-day moving average price of $2.44.

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

Banco Bradesco Cuts Dividend

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

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. Insigneo Advisory Services LLC grew its holdings in shares of Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock valued at $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC lifted its position in Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after acquiring an additional 4,737 shares during the period. Blue Trust Inc. grew its stake in Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after purchasing an additional 5,623 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Banco Bradesco by 1.1% in the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 8,000 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after purchasing an additional 8,641 shares during the last quarter.

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.