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

Shares of Banco Bradesco SA (NYSE:BBDO) gapped down before the market opened on Wednesday. The stock had previously closed at $3.94, but opened at $3.75. Banco Bradesco shares last traded at $3.60, with a volume of 48,944 shares.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. According to MarketBeat.com, Banco Bradesco presently has an average rating of “Buy”.

Banco Bradesco Stock Down 2.5%

The firm has a fifty day simple moving average of $3.24 and a 200 day simple moving average of $3.22. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The company has a market cap of $38.01 billion, a PE ratio of 8.18 and a beta of 0.48.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be issued a $0.0035 dividend. The ex-dividend date is Thursday, November 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 dividend on an annualized basis and a yield of 1.2%. Banco Bradesco’s payout ratio is presently 7.14%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Ritholtz Wealth Management raised its stake in Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock worth $716,000 after purchasing an additional 145,684 shares during the period. Kathmere Capital Management LLC boosted its holdings 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. Renaissance Technologies LLC boosted its holdings in shares of Banco Bradesco by 198.9% in the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after purchasing an additional 23,289 shares during the last quarter. Cetera Investment Advisers grew its stake in shares of Banco Bradesco by 160.5% during the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after buying an additional 18,168 shares during the period. Finally, Royal Bank of Canada grew its stake in shares of Banco Bradesco by 307.2% during the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after buying an additional 15,180 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.