Banco Bradesco Sees Unusually Large Options Volume (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) saw some unusual options trading activity on Friday. Stock investors purchased 47,237 put options on the stock. This is an increase of approximately 3,579% compared to the typical daily volume of 1,284 put options.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock opened at $2.38 on Friday. The business has a fifty day simple moving average of $2.61 and a 200 day simple moving average of $2.54. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 12 month low of $2.16 and a 12 month high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Sell-side analysts predict that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a yield of 1.67%. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently made changes to their positions in BBD. Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 170.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter. Fisher Asset Management LLC raised its position in shares of Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after purchasing an additional 12,228,662 shares during the period. Wellington Management Group LLP lifted its holdings in shares of Banco Bradesco by 15.1% during the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock valued at $125,144,000 after purchasing an additional 6,171,193 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC acquired a new position in shares of Banco Bradesco in the 3rd quarter valued at approximately $104,542,000. Finally, Itau Unibanco Holding S.A. increased its stake in Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after purchasing an additional 13,627,768 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

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.