Banco Bradesco (NYSE:BBDO) Shares Up 3.8% – Here’s Why

Shares of Banco Bradesco SA (NYSE:BBDO) traded up 3.8% during trading on Tuesday . The company traded as high as $3.13 and last traded at $3.1050. Approximately 5,332 shares were traded during trading, a decline of 93% from the average session volume of 77,133 shares. The stock had previously closed at $2.99.

Analyst Ratings Changes

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

Banco Bradesco Trading Up 1.3%

The stock has a market cap of $32.11 billion, a PE ratio of 7.21 and a beta of 0.55. The stock has a 50-day moving average price of $3.11 and a two-hundred day moving average price of $3.24. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be paid a $0.0034 dividend. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 7.14%.

Institutional Trading of Banco Bradesco

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. increased its stake in Banco Bradesco by 659,843.0% during the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after acquiring an additional 47,370,132 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in shares of Banco Bradesco by 79.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after acquiring an additional 1,360,089 shares during the period. 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 valued at $1,073,000 after acquiring an additional 181,299 shares during the period. Ritholtz Wealth Management raised its position in Banco Bradesco by 202.8% in the 1st 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. Finally, Kathmere Capital Management LLC raised its holdings in shares of Banco Bradesco by 33.5% in the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock worth $861,000 after buying an additional 65,621 shares during the period.

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.