Banco Bradesco Target of Unusually High Options Trading (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD) saw unusually large options trading on Thursday. Stock investors purchased 30,707 call options on the company. This represents an increase of approximately 1,569% compared to the average daily volume of 1,840 call options.

Banco Bradesco Stock Performance

NYSE:BBD traded down $0.09 during midday trading on Thursday, hitting $3.38. The company’s stock had a trading volume of 11,671,385 shares, compared to its average volume of 34,693,934. Banco Bradesco has a fifty-two week low of $2.98 and a fifty-two week high of $4.30. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The firm has a market cap of $35.76 billion, a P/E ratio of 8.04, a P/E/G ratio of 0.55 and a beta of 0.52. The firm’s 50 day moving average is $3.42 and its 200-day moving average is $3.55.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The business had revenue of $6.77 billion during the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. Equities analysts anticipate that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, November 10th. Investors of record on Monday, October 5th will be given a dividend of $0.0037 per share. The ex-dividend date is Monday, October 5th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s payout ratio is currently 4.76%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently added to or reduced their stakes in BBD. Carrhae Capital LLP acquired a new position in shares of Banco Bradesco in the 2nd quarter valued at about $15,560,000. Euro Pacific Asset Management LLC boosted its stake in shares of Banco Bradesco by 77.6% in the first quarter. Euro Pacific Asset Management LLC now owns 1,057,281 shares of the bank’s stock worth $3,866,000 after buying an additional 462,080 shares during the last quarter. Hsbc Holdings PLC grew its holdings in Banco Bradesco by 18.1% during the first quarter. Hsbc Holdings PLC now owns 3,389,610 shares of the bank’s stock worth $12,377,000 after acquiring an additional 519,953 shares during the period. Amundi grew its holdings in Banco Bradesco by 20.0% during the first quarter. Amundi now owns 24,583,083 shares of the bank’s stock worth $89,728,000 after acquiring an additional 4,099,099 shares during the period. Finally, ABS Direct Equity Fund LLC purchased a new position in Banco Bradesco during the second quarter valued at approximately $1,270,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One equities research analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy”.

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, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.