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

Shares of Banco Bradesco S.A. (NYSE:BBD) gapped up before the market opened on Tuesday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.33, with a volume of 5,979,165 shares traded.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Trading Up 1.1 %

The firm has a market cap of $24.74 billion, a P/E ratio of 7.75, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company’s fifty day moving average price is $2.08 and its two-hundred day moving average price is $2.26. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, sell-side analysts predict that Banco Bradesco S.A. will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced 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 is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 dividend on an annualized basis and a dividend yield of 20.52%. Banco Bradesco’s dividend payout ratio (DPR) is 6.67%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in BBD. R Squared Ltd bought a new position in Banco Bradesco in the 4th quarter valued at $30,000. Traveka Wealth LLC acquired a new stake in Banco Bradesco in the fourth quarter worth about $31,000. Peapack Gladstone Financial Corp raised its holdings in Banco Bradesco by 54.5% during the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock worth $32,000 after purchasing an additional 6,000 shares during the last quarter. Townsquare Capital LLC acquired a new position in Banco Bradesco during the 3rd quarter valued at about $37,000. Finally, Blue Trust Inc. boosted its stake in shares of Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank’s stock valued at $38,000 after purchasing an additional 8,801 shares during the last 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.