Banco Bradesco (NYSE:BBDO) Sees Unusually-High Trading Volume – Still a Buy?

Shares of Banco Bradesco SA (NYSE:BBDO) saw unusually-high trading volume on Tuesday. Approximately 214,544 shares traded hands during trading, an increase of 161% from the average daily volume of 82,078 shares. The stock last traded at $2.7350 and had previously closed at $2.76.

Wall Street Analyst Weigh In

BBDO has been the topic of several recent analyst reports. Oppenheimer reduced their price target on shares of Banco Bradesco from $90.00 to $85.00 and set an “outperform” rating on the stock in a research note on Monday, July 27th. Argus cut Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. UBS Group reduced their price objective on Banco Bradesco from $74.00 to $67.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft reduced their price objective on Banco Bradesco from $75.00 to $60.00 and set a “buy” rating on the stock in a report on Thursday, July 30th. Finally, Wells Fargo & Company decreased their target price on Banco Bradesco from $55.00 to $50.00 and set an “equal weight” rating for the company in a research report on Thursday, July 30th. Eleven research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Banco Bradesco has an average rating of “Moderate Buy” and an average target price of $73.58.

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 firm has a market cap of $26.59 billion, a P/E ratio of 5.47 and a beta of 0.48. The firm has a 50-day simple moving average of $3.28 and a 200-day simple moving average of $3.28.

Banco Bradesco (NYSE:BBDO) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. The firm had revenue of $7.75 billion during the quarter. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be issued a $0.0035 dividend. The ex-dividend date is Thursday, November 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.7%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.0034. Banco Bradesco’s dividend payout ratio (DPR) is 39.13%.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Intergy Private Wealth LLC lifted its position in Banco Bradesco by 44.8% during the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock valued at $63,000 after acquiring an additional 6,302 shares during the last quarter. QRG Capital Management Inc. boosted its stake in Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock valued at $64,000 after acquiring an additional 7,068 shares in the last quarter. Ameritas Advisory Services LLC acquired a new stake in Banco Bradesco in the second quarter valued at approximately $33,000. Park Avenue Securities LLC acquired a new stake in Banco Bradesco in the third quarter valued at approximately $37,000. Finally, Royal Bank of Canada grew its holdings in Banco Bradesco by 307.2% in the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock worth $67,000 after purchasing an additional 15,180 shares during the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.