Banco Bradesco (NYSE:BBDO) Sees Large Volume Increase Following Dividend Announcement

Banco Bradesco SA (NYSE:BBDO) saw unusually-high trading volume on Friday after the company announced a dividend. Approximately 141,172 shares changed hands during mid-day trading, an increase of 58% from the average daily volume of 89,588 shares. The stock last traded at $2.47 and had previously closed at $2.37.

The newly announced dividend which will be paid on Monday, January 11th. Stockholders of record on Thursday, December 3rd will be issued a dividend of $0.0031 per share. This is a drop from Banco Bradesco’s previous monthly dividend of $0.0035. The ex-dividend date of this dividend is Thursday, December 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.5%. Banco Bradesco’s payout ratio is currently 39.13%.

Wall Street Analyst Weigh In

BBDO has been the topic of several 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 report on Monday, July 27th. JPMorgan Chase & Co. lowered their price objective on shares of Banco Bradesco from $80.00 to $56.00 and set an “overweight” rating for the company in a research report on Thursday, July 30th. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Banco Bradesco from $75.00 to $60.00 and set a “buy” rating for the company in a research report on Thursday, July 30th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. Finally, Argus downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a report on Friday, July 31st. Eleven equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, Banco Bradesco currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.58.

Banco Bradesco Stock Up 2.8%

The firm’s fifty day moving average is $3.20 and its 200-day moving average is $3.26. The company has a market capitalization of $25.77 billion, a P/E ratio of 5.32 and a beta of 0.57. The company has a debt-to-equity ratio of 2.78, a quick ratio of 1.72 and a current ratio of 1.72.

Banco Bradesco (NYSE:BBDO) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. The business had revenue of $7.75 billion during the quarter.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. Intergy Private Wealth LLC lifted its stake in shares of Banco Bradesco by 44.8% in the 3rd 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. grew its position in Banco Bradesco by 49.2% during the 2nd quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after acquiring an additional 7,068 shares during the last quarter. Ameritas Advisory Services LLC bought a new stake in Banco Bradesco during the 2nd quarter worth $33,000. Park Avenue Securities LLC bought a new stake in Banco Bradesco during the 3rd quarter worth $37,000. Finally, Royal Bank of Canada increased its holdings in Banco Bradesco by 307.2% in the 1st 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 in 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.