Banco Bradesco (NYSE:BBDO) Sees Strong Trading Volume – Time to Buy?

Banco Bradesco SA (NYSE:BBDO) shares saw an uptick in trading volume on Friday . 47,984 shares traded hands during trading, a decline of 5% from the previous session’s volume of 50,441 shares.The stock last traded at $3.1250 and had previously closed at $3.16.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research report on Tuesday. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Banco Bradesco Stock Down 3.2%

The company has a market cap of $32.14 billion, a price-to-earnings ratio of 8.63 and a beta of 0.62. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50-day moving average price of $2.98 and a 200 day moving average price of $2.74.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.0032 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, December 3rd. Banco Bradesco’s payout ratio is 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its position in Banco Bradesco by 659,843.0% during the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after acquiring an additional 47,370,132 shares during the period. Goldman Sachs Group Inc. boosted its holdings in Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after purchasing an additional 181,299 shares during the period. Caprock Group LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth approximately $410,000. Kathmere Capital Management LLC increased its holdings in shares of Banco Bradesco by 121.7% during the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock worth $286,000 after purchasing an additional 57,451 shares during the period. Finally, D Orazio & Associates Inc. increased its holdings in shares of Banco Bradesco by 432.0% during the second quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank’s stock worth $182,000 after purchasing an additional 54,085 shares during the period.

Banco Bradesco Company Profile

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.