Banco Bradesco (NYSE:BBD) Shares Gap Down – Here’s What Happened

Banco Bradesco S.A. (NYSE:BBD) gapped down before the market opened on Thursday . The stock had previously closed at $1.93, but opened at $1.89. Banco Bradesco shares last traded at $1.91, with a volume of 1,078,734 shares trading hands.

Wall Street Analyst Weigh In

Separately, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Banco Bradesco Price Performance

The stock has a fifty day moving average of $2.28 and a two-hundred day moving average of $2.45. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock has a market cap of $20.54 billion, a price-to-earnings ratio of 7.42, a PEG ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. As a group, analysts predict that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently announced a — dividend, which will be paid on Monday, August 11th. Investors of record on Friday, January 3rd will be issued a dividend of $0.0362 per share. The ex-dividend date of this dividend is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco’s payout ratio is 11.54%.

Institutional Trading of Banco Bradesco

Institutional investors have recently added to or reduced their stakes in the business. Insigneo Advisory Services LLC lifted its position in shares of Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after purchasing an additional 4,260 shares in the last quarter. Inspire Advisors LLC lifted its holdings in Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after buying an additional 4,737 shares in the last quarter. Blue Trust Inc. boosted its position in Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the last quarter. Daiwa Securities Group Inc. grew its stake in shares of Banco Bradesco by 1.1% during the second quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 8,000 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after acquiring an additional 8,641 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.