Banco Bradesco (NYSE:BBDO) Shares Gap Down to $3.05

Banco Bradesco S.A. (NYSE:BBDOGet Rating) shares gapped down prior to trading on Wednesday . The stock had previously closed at $3.05, but opened at $2.75. Banco Bradesco shares last traded at $2.73, with a volume of 1,930 shares changing hands.

Banco Bradesco Price Performance

The stock has a market cap of $25.37 billion, a price-to-earnings ratio of 5.75 and a beta of 1.02. The stock has a fifty day simple moving average of $3.07 and a 200-day simple moving average of $3.02. The company has a current ratio of 1.57, a quick ratio of 1.56 and a debt-to-equity ratio of 1.60.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, January 9th. Shareholders of record on Monday, December 5th will be issued a $0.0024 dividend. This represents a $0.03 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Friday, December 2nd. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.25%.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Checchi Capital Advisers LLC grew its holdings in Banco Bradesco by 26.3% in the 1st quarter. Checchi Capital Advisers LLC now owns 21,911 shares of the bank’s stock valued at $84,000 after buying an additional 4,561 shares during the last quarter. Freestone Capital Holdings LLC lifted its position in shares of Banco Bradesco by 47.5% in the 1st quarter. Freestone Capital Holdings LLC now owns 19,295 shares of the bank’s stock worth $74,000 after acquiring an additional 6,213 shares during the period. Aaron Wealth Advisors LLC bought a new stake in shares of Banco Bradesco in the 1st quarter worth approximately $1,708,000. Virtu Financial LLC lifted its position in shares of Banco Bradesco by 63.9% in the 3rd quarter. Virtu Financial LLC now owns 17,092 shares of the bank’s stock worth $51,000 after acquiring an additional 6,661 shares during the period. Finally, SPX Gestao de Recursos Ltda lifted its position in shares of Banco Bradesco by 61.8% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 22,904 shares of the bank’s stock worth $69,000 after acquiring an additional 8,751 shares during the period. Institutional investors and hedge funds own 0.01% of the company’s stock.

About Banco Bradesco

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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 segment, 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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.

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