Traders Buy Large Volume of Banco Bradesco Put Options (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 4,509 put options on the stock. This represents an increase of approximately 102% compared to the average volume of 2,232 put options.

Banco Bradesco Trading Down 2.5 %

BBD traded down $0.06 during trading hours on Monday, reaching $2.14. 12,566,327 shares of the company’s stock traded hands, compared to its average volume of 30,875,927. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The firm has a 50-day moving average price of $2.13 and a 200 day moving average price of $2.23. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $2.97. The firm has a market capitalization of $22.72 billion, a PE ratio of 7.12, a PEG ratio of 0.32 and a beta of 0.56.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, sell-side analysts predict that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be given a dividend of $0.0398 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 22.34%. Banco Bradesco’s dividend payout ratio is presently 43.33%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BBD shares. The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently modified their holdings of the business. Public Employees Retirement System of Ohio bought a new position in shares of Banco Bradesco in the 4th quarter worth $13,097,000. Vident Advisory LLC grew its position in shares of Banco Bradesco by 87.3% in the 4th quarter. Vident Advisory LLC now owns 65,112 shares of the bank’s stock worth $124,000 after buying an additional 30,351 shares during the last quarter. Man Group plc bought a new position in shares of Banco Bradesco during the 4th quarter worth approximately $173,000. Millennium Management LLC lifted its position in Banco Bradesco by 28.9% during the fourth quarter. Millennium Management LLC now owns 5,323,711 shares of the bank’s stock valued at $10,168,000 after acquiring an additional 1,194,063 shares during the last quarter. Finally, Graham Capital Management L.P. boosted its stake in Banco Bradesco by 2,638.6% in the fourth quarter. Graham Capital Management L.P. now owns 287,937 shares of the bank’s stock valued at $550,000 after acquiring an additional 277,423 shares in the last quarter.

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.