Banco Bradesco (NYSE:BBD) Shares Gap Up – What’s Next?

Shares of Banco Bradesco S.A. (NYSE:BBD) gapped up prior to trading on Tuesday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.33, with a volume of 5,979,165 shares traded.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. The Goldman Sachs Group cut Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

Banco Bradesco Price Performance

The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The company has a 50-day moving average price of $2.07 and a 200-day moving average price of $2.26. The firm has a market capitalization of $24.96 billion, a P/E ratio of 7.82, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

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

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be issued a $0.0398 dividend. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.48 annualized dividend and a dividend yield of 20.34%. The ex-dividend date is Wednesday, April 2nd. Banco Bradesco’s dividend payout ratio is 6.67%.

Institutional Trading of Banco Bradesco

A number of large investors have recently bought and sold shares of BBD. Massachusetts Financial Services Co. MA boosted its holdings in shares of Banco Bradesco by 13.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank’s stock valued at $191,386,000 after buying an additional 12,236,689 shares during the period. ARGA Investment Management LP boosted its stake in Banco Bradesco by 215.1% in the 4th quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock worth $158,224,000 after purchasing an additional 56,552,808 shares during the period. Fisher Asset Management LLC increased its holdings in Banco Bradesco by 19.2% during the 3rd 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 in the last quarter. Wellington Management Group LLP raised its stake in shares of Banco Bradesco by 20.8% in the 4th quarter. Wellington Management Group LLP now owns 56,809,743 shares of the bank’s stock valued at $108,507,000 after purchasing an additional 9,762,964 shares during the period. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in shares of Banco Bradesco by 26.2% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 50,826,745 shares of the bank’s stock valued at $97,079,000 after purchasing an additional 10,537,751 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.