Banco Bradesco (NYSE:BBDO) Shares Gap Down – What’s Next?

Banco Bradesco SA (NYSE:BBDO)’s stock price gapped down prior to trading on Tuesday . The stock had previously closed at $2.98, but opened at $2.82. Banco Bradesco shares last traded at $2.90, with a volume of 6,807 shares trading hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research note on Tuesday, December 2nd. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy”.

Banco Bradesco Stock Down 2.9%

The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64. The firm has a 50-day moving average of $2.98 and a two-hundred day moving average of $2.75. The firm has a market cap of $30.81 billion, a price-to-earnings ratio of 8.29 and a beta of 0.62.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.0032 per share. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, December 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is presently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Ritholtz Wealth Management bought a new stake in shares of Banco Bradesco in the 2nd quarter worth approximately $30,000. Farther Finance Advisors LLC raised its stake in shares of Banco Bradesco by 5,542.4% in the second quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after acquiring an additional 10,974 shares during the last quarter. Compound Planning Inc. acquired a new stake in shares of Banco Bradesco in the third quarter valued at $35,000. Savant Capital LLC acquired a new stake in shares of Banco Bradesco in the second quarter valued at approximately $51,000. Finally, Aprio Wealth Management LLC acquired a new position in Banco Bradesco during the 1st quarter valued at about $43,000.

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.