Banco Bradesco (NYSE:BBD) Shares Gap Down – Time to Sell?

Banco Bradesco S.A. (NYSE:BBD) gapped down prior to trading on Thursday . The stock had previously closed at $1.91, but opened at $1.87. Banco Bradesco shares last traded at $1.92, with a volume of 5,981,735 shares changing hands.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Performance

The company has a market capitalization of $20.70 billion, a PE ratio of 7.48, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The stock’s fifty day simple moving average is $2.21 and its 200-day simple moving average is $2.43. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. As a group, equities analysts predict that Banco Bradesco S.A. will post 0.33 earnings per share for the current year.

Banco Bradesco Cuts Dividend

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

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds have recently made changes to their positions in the stock. Blue Trust Inc. increased its holdings in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares during the last quarter. Townsquare Capital LLC acquired a new stake in Banco Bradesco during the third quarter worth about $37,000. Insigneo Advisory Services LLC purchased a new position in shares of Banco Bradesco in the 2nd quarter worth about $43,000. Eagle Bay Advisors LLC raised its holdings in shares of Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after purchasing an additional 10,500 shares during the period. Finally, First Affirmative Financial Network acquired a new position in shares of Banco Bradesco in the 3rd quarter valued at about $66,000.

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.