Banco Bradesco (NYSE:BBDO) Sees Strong Trading Volume – Here’s Why

Shares of Banco Bradesco SA (NYSE:BBDO) saw unusually-strong trading volume on Tuesday. Approximately 214,544 shares traded hands during trading, an increase of 161% from the average daily volume of 82,078 shares. The stock last traded at $2.7350 and had previously closed at $2.76.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on BBDO shares. Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Citigroup downgraded Banco Bradesco to a “neutral” rating in a research note on Tuesday. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Banco Bradesco Trading Down 1.1%

The stock has a market cap of $28.92 billion, a PE ratio of 5.92 and a beta of 0.48. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a fifty day simple moving average of $3.30 and a two-hundred day simple moving average of $3.28.

Banco Bradesco (NYSE:BBDO) last released its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%. The firm had revenue of $7.75 billion for the quarter.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be issued a $0.0035 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is 4.35%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Park Avenue Securities LLC purchased a new position in Banco Bradesco in the 3rd quarter worth approximately $37,000. XXI Wealth LLC grew its holdings in Banco Bradesco by 156.1% during the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank’s stock valued at $104,000 after purchasing an additional 20,519 shares during the last quarter. Intergy Private Wealth LLC grew its holdings in shares of Banco Bradesco by 44.8% in the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock worth $63,000 after purchasing an additional 6,302 shares during the last quarter. QRG Capital Management Inc. increased its position in shares of Banco Bradesco by 49.2% during the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after acquiring an additional 7,068 shares during the period. Finally, Ameritas Advisory Services LLC bought a new stake in shares of Banco Bradesco in the second quarter valued at about $33,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.