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

Banco Bradesco SA (NYSE:BBDO) saw strong trading volume on Wednesday . 133,449 shares traded hands during trading, an increase of 140% from the previous session’s volume of 55,678 shares.The stock last traded at $3.03 and had previously closed at $3.10.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, Banco Bradesco currently has a consensus rating of “Buy”.

Banco Bradesco Price Performance

The firm has a market cap of $32.03 billion, a PE ratio of 8.14 and a beta of 0.60. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. The stock has a 50 day moving average price of $3.03 and a two-hundred day moving average price of $2.81.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, February 9th. Stockholders of record on Tuesday, January 6th will be paid a dividend of $0.0031 per share. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, January 6th. Banco Bradesco’s payout ratio is presently 5.71%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after purchasing an additional 181,299 shares during the last quarter. Farther Finance Advisors LLC raised its position in Banco Bradesco by 5,542.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock worth $30,000 after buying an additional 10,974 shares during the last quarter. Kathmere Capital Management LLC raised its position in Banco Bradesco by 121.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock worth $286,000 after buying an additional 57,451 shares during the last quarter. Ritholtz Wealth Management acquired a new stake in shares of Banco Bradesco in the second quarter worth $30,000. Finally, Savant Capital LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at about $51,000.

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.