Banco Bradesco (NYSE:BBDO) Shares Gap Up – Still a Buy?

Banco Bradesco SA (NYSE:BBDO) gapped up prior to trading on Monday. The stock had previously closed at $3.16, but opened at $3.40. Banco Bradesco shares last traded at $3.5650, with a volume of 63,569 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company has a consensus rating of “Hold”.

Banco Bradesco Trading Up 6.5%

The firm’s 50-day simple moving average is $3.16 and its 200 day simple moving average is $3.19. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market capitalization of $42.44 billion, a price-to-earnings ratio of 9.54 and a beta of 0.48.

Banco Bradesco Dividend Announcement

The firm 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 dividend of $0.0662 per share. The ex-dividend date is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is currently 7.14%.

Institutional Trading of Banco Bradesco

Several large investors have recently bought and sold shares of the business. QRG Capital Management Inc. raised its stake in 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 in the last quarter. Ameritas Advisory Services LLC bought a new position in shares of Banco Bradesco in the second quarter worth about $33,000. Royal Bank of Canada boosted its stake in shares of Banco Bradesco by 307.2% in the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after purchasing an additional 15,180 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Banco Bradesco by 198.9% in the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after purchasing an additional 23,289 shares in the last quarter. Finally, Cetera Investment Advisers grew its holdings in shares of Banco Bradesco by 160.5% during the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after purchasing an additional 18,168 shares during the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.