Banco Bradesco (NYSE:BBD) Shares Gap Down to $2.85

Banco Bradesco S.A. (NYSE:BBD)’s share price gapped down prior to trading on Thursday . The stock had previously closed at $2.85, but opened at $2.76. Banco Bradesco shares last traded at $2.79, with a volume of 2,599,315 shares changing hands.

Analyst Ratings Changes

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

Banco Bradesco Trading Down 0.4 %

The firm has a market cap of $29.63 billion, a PE ratio of 12.09, a PEG ratio of 0.24 and a beta of 0.97. 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 business has a 50-day moving average price of $2.44 and a two-hundred day moving average price of $2.60.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. The firm had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Analysts forecast that Banco Bradesco S.A. will post 0.34 EPS for the current year.

Banco Bradesco Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be paid a $0.0035 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.50%. The ex-dividend date of this dividend is Wednesday, September 4th. Banco Bradesco’s payout ratio is currently 13.04%.

Hedge Funds Weigh In On Banco Bradesco

Hedge funds have recently bought and sold shares of the stock. Fisher Asset Management LLC boosted its stake in shares of Banco Bradesco by 77.2% during the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock valued at $242,441,000 after acquiring an additional 30,188,950 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its stake in shares of Banco Bradesco by 51.1% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock worth $112,715,000 after purchasing an additional 10,885,211 shares during the last quarter. Doma Perpetual Capital Management LLC grew its holdings in shares of Banco Bradesco by 403.4% during the second quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock worth $25,096,000 after buying an additional 8,978,150 shares in the last quarter. Marshall Wace LLP raised its position in shares of Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after buying an additional 7,783,248 shares during the last quarter. Finally, Wellington Management Group LLP lifted its stake in shares of Banco Bradesco by 14.1% during the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after buying an additional 7,478,762 shares during the period.

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.