Banco Bradesco (NYSE:BBDO) Stock Price Down 5.7% – Here’s What Happened

Banco Bradesco S.A. (NYSE:BBDO)’s share price fell 5.7% during mid-day trading on Wednesday . The stock traded as low as $1.89 and last traded at $1.87. 17,832 shares were traded during mid-day trading, a decline of 69% from the average session volume of 57,368 shares. The stock had previously closed at $1.98.

Banco Bradesco Price Performance

The company has a fifty day simple moving average of $1.86 and a 200-day simple moving average of $2.15. The company has a market cap of $20.49 billion, a P/E ratio of 7.40 and a beta of 1.09. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be given a dividend of $0.003 per share. The ex-dividend date of this dividend is Friday, March 7th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. Banco Bradesco’s payout ratio is 11.54%.

Hedge Funds Weigh In On Banco Bradesco

A hedge fund recently raised its stake in Banco Bradesco stock. O Shaughnessy Asset Management LLC raised its position in shares of Banco Bradesco S.A. (NYSE:BBDO) by 402.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 41,349 shares of the bank’s stock after buying an additional 33,126 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Banco Bradesco were worth $74,000 at the end of the most recent quarter.

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.