Banco Bradesco (NYSE:BBD) Shares Gap Up – Here’s Why

Banco Bradesco SA (NYSE:BBD)’s share price gapped up before the market opened on Tuesday. The stock had previously closed at $4.33, but opened at $4.52. Banco Bradesco shares last traded at $4.4750, with a volume of 19,655,258 shares changing hands.

Wall Street Analyst Weigh In

BBD has been the subject of a number of research reports. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday. Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. Based on data from MarketBeat, Banco Bradesco has an average rating of “Moderate Buy”.

Banco Bradesco Trading Up 4.5%

The stock has a market cap of $47.95 billion, a P/E ratio of 10.77, a P/E/G ratio of 0.56 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The stock’s fifty day moving average is $3.41 and its 200 day moving average is $3.55.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. As a group, equities research analysts predict that Banco Bradesco SA will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The company also recently disclosed a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be given a $0.0728 dividend. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is 4.76%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBD. Tidal Investments LLC raised its position in Banco Bradesco by 1.9% during the second quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock worth $558,000 after acquiring an additional 2,990 shares during the period. Compound Planning Inc. increased its stake in shares of Banco Bradesco by 2.1% during the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock worth $579,000 after purchasing an additional 3,247 shares in the last quarter. Cetera Investment Advisers raised its position in shares of Banco Bradesco by 16.7% during the 1st quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock worth $90,000 after purchasing an additional 3,519 shares during the last quarter. ABN Amro Investment Solutions lifted its stake in Banco Bradesco by 8.5% in the 1st quarter. ABN Amro Investment Solutions now owns 60,200 shares of the bank’s stock valued at $220,000 after buying an additional 4,700 shares in the last quarter. Finally, Natural Investments LLC boosted its holdings in Banco Bradesco by 33.2% in the 2nd quarter. Natural Investments LLC now owns 23,570 shares of the bank’s stock worth $81,000 after buying an additional 5,880 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.