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

Banco Bradesco S.A. (NYSE:BBD) gapped down prior to trading on Monday . The stock had previously closed at $2.13, but opened at $2.08. Banco Bradesco shares last traded at $2.09, with a volume of 8,775,486 shares changing hands.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BBD. The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.50 to $3.20 in a report on Monday, August 19th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Stock Performance

The firm has a market cap of $22.06 billion, a P/E ratio of 8.19, a PEG ratio of 0.25 and a beta of 0.97. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The company’s 50-day moving average is $2.52 and its two-hundred day moving average is $2.52.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share 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 analysts’ expectations of $5.62 billion. As a group, equities analysts predict that Banco Bradesco S.A. will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 annualized dividend and a yield of 1.91%. Banco Bradesco’s dividend payout ratio (DPR) is presently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of BBD. Blue Trust Inc. lifted its position 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 in the last quarter. Townsquare Capital LLC purchased a new stake in shares of Banco Bradesco during the 3rd quarter worth approximately $37,000. Insigneo Advisory Services LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $43,000. Mayport LLC purchased a new position in Banco Bradesco in the 2nd quarter valued at approximately $47,000. Finally, SG Americas Securities LLC bought a new position in Banco Bradesco in the 2nd quarter valued at $49,000.

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.