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

Banco Bradesco S.A. (NYSE:BBD) gapped up before the market opened on Thursday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.30, with a volume of 5,346,018 shares traded.

Analyst Ratings Changes

Several equities research analysts have weighed in on BBD shares. The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The stock has a market capitalization of $23.36 billion, a price-to-earnings ratio of 7.32, a price-to-earnings-growth ratio of 0.32 and a beta of 0.56. The stock has a 50-day moving average of $2.13 and a 200 day moving average of $2.24.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be paid a $0.0398 dividend. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 21.73%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 43.33%.

Institutional Investors Weigh In On Banco Bradesco

Institutional investors have recently made changes to their positions in the stock. Townsquare Capital LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth about $37,000. Point72 Asset Management L.P. boosted its stake in Banco Bradesco by 312.8% during the 3rd quarter. Point72 Asset Management L.P. now owns 1,945,100 shares of the bank’s stock worth $5,174,000 after acquiring an additional 1,473,900 shares during the last quarter. State Street Corp grew its holdings in Banco Bradesco by 71.0% during the third quarter. State Street Corp now owns 15,778,647 shares of the bank’s stock valued at $42,715,000 after purchasing an additional 6,551,698 shares during the period. Two Sigma Advisers LP increased its stake in Banco Bradesco by 208.7% in the third quarter. Two Sigma Advisers LP now owns 16,851,220 shares of the bank’s stock valued at $44,824,000 after purchasing an additional 11,393,100 shares in the last quarter. Finally, Wellington Management Group LLP raised its holdings in Banco Bradesco by 15.1% in the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after purchasing an additional 6,171,193 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.