Banco Bradesco (NYSE:BBDO) Sees Unusually-High Trading Volume – Here’s What Happened

Banco Bradesco SA (NYSE:BBDO) shares saw strong trading volume on Tuesday . Approximately 189,018 shares traded hands during trading, an increase of 152% from the previous session’s volume of 74,892 shares.The stock last traded at $3.29 and had previously closed at $3.25.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Banco Bradesco presently has an average rating of “Buy”.

Banco Bradesco Stock Performance

The stock has a market capitalization of $34.76 billion, a PE ratio of 8.40 and a beta of 0.56. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The firm’s 50 day moving average is $3.06 and its two-hundred day moving average is $3.28.

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

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be paid a $0.0034 dividend. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.13%.

Institutional Trading of Banco Bradesco

A number of large investors have recently made changes to their positions in BBDO. Franklin Resources Inc. raised its holdings in Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after acquiring an additional 47,370,132 shares in the last quarter. O Shaughnessy Asset Management LLC grew its holdings in Banco Bradesco by 79.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock worth $8,803,000 after acquiring an additional 1,360,089 shares in the last quarter. Goldman Sachs Group Inc. increased its position in shares of Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after purchasing an additional 181,299 shares during the last quarter. Kathmere Capital Management LLC increased its position in shares of Banco Bradesco by 33.5% in the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock valued at $861,000 after purchasing an additional 65,621 shares during the last quarter. Finally, Ritholtz Wealth Management raised its holdings in shares of Banco Bradesco by 202.8% in the 1st quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock valued at $716,000 after purchasing an additional 145,684 shares in the last quarter.

Banco Bradesco Company Profile

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.