Banco Bradesco (NYSE:BBD) Trading Down 7.1% – Should You Sell?

Banco Bradesco S.A. (NYSE:BBD) shares traded down 7.1% on Wednesday . The company traded as low as $2.03 and last traded at $2.02. 9,568,233 shares traded hands during mid-day trading, a decline of 81% from the average session volume of 50,350,438 shares. The stock had previously closed at $2.17.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on BBD shares. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a research report on Monday, January 13th. Finally, The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and cut their price target for the stock from $2.40 to $2.00 in a research note on Wednesday.

Banco Bradesco Stock Performance

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 firm has a market capitalization of $22.30 billion, a PE ratio of 8.06, a PEG ratio of 0.28 and a beta of 0.94. The stock’s 50 day moving average price is $1.99 and its two-hundred day moving average price is $2.38.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, equities analysts expect that Banco Bradesco S.A. will post 0.33 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be paid a $0.0033 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 annualized dividend and a yield of 1.88%. Banco Bradesco’s payout ratio is presently 11.54%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of BBD. Blue Trust Inc. raised its position in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the last quarter. R Squared Ltd purchased a new stake in Banco Bradesco in the 4th quarter worth approximately $30,000. Traveka Wealth LLC acquired a new position in Banco Bradesco in the 4th quarter valued at $31,000. Peapack Gladstone Financial Corp raised its holdings in Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock valued at $32,000 after acquiring an additional 6,000 shares during the last quarter. Finally, Townsquare Capital LLC purchased a new position in shares of Banco Bradesco during the 3rd quarter worth $37,000.

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.