Banco Bradesco (NYSE:BBDO) Shares Gap Down – Time to Sell?

Banco Bradesco SA (NYSE:BBDO)’s stock price gapped down prior to trading on Wednesday . The stock had previously closed at $3.23, but opened at $3.07. Banco Bradesco shares last traded at $3.04, with a volume of 13,183 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

Banco Bradesco Stock Down 0.6%

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The company has a market cap of $31.91 billion, a price-to-earnings ratio of 7.72 and a beta of 0.55. The firm’s fifty day simple moving average is $3.34 and its 200 day simple moving average is $3.27.

Banco Bradesco (NYSE:BBDO) last released its quarterly earnings results on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $13.07 billion during the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) annualized dividend and a yield of 1.4%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 5.13%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently made changes to their positions in the stock. Caprock Group LLC purchased a new position in Banco Bradesco in the 3rd quarter valued at about $410,000. Ritholtz Wealth Management grew its position in Banco Bradesco by 202.8% in the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock valued at $716,000 after acquiring an additional 145,684 shares in the last quarter. SmartHarvest Portfolios LLC grew its position in Banco Bradesco by 21.2% in the first quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock valued at $54,000 after acquiring an additional 2,863 shares in the last quarter. Intergy Private Wealth LLC grew its position in shares of Banco Bradesco by 31.4% during the first quarter. Intergy Private Wealth LLC now owns 13,920 shares of the bank’s stock worth $46,000 after buying an additional 3,323 shares in the last quarter. Finally, O Shaughnessy Asset Management LLC lifted its stake in Banco Bradesco by 79.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock worth $8,803,000 after purchasing an additional 1,360,089 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.