Banco Bradesco (NYSE:BBDO) Shares Gap Up – Here’s Why

Banco Bradesco SA (NYSE:BBDO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.99, but opened at $3.10. Banco Bradesco shares last traded at $2.99, with a volume of 3,881 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. One investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of “Hold”.

Banco Bradesco Price Performance

The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market cap of $31.68 billion, a PE ratio of 7.12 and a beta of 0.55. The company has a fifty day moving average of $3.11 and a 200-day moving average of $3.24.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be issued a dividend of $0.0034 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Thursday, September 3rd. This represents a c) annualized dividend and a yield of 1.4%. Banco Bradesco’s dividend payout ratio (DPR) is currently 4.76%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of BBDO. Cetera Investment Advisers purchased a new position in shares of Banco Bradesco during the fourth quarter worth about $32,000. Ameritas Advisory Services LLC acquired a new position in shares of Banco Bradesco in the 2nd quarter valued at $33,000. Renaissance Technologies LLC purchased a new stake in Banco Bradesco in the 4th quarter valued at $34,000. Tocqueville Asset Management L.P. purchased a new stake in Banco Bradesco in the 4th quarter valued at $37,000. Finally, SmartHarvest Portfolios LLC acquired a new stake in Banco Bradesco during the 4th quarter worth $39,000.

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.