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

Shares of Banco Bradesco SA (NYSE:BBDO) gapped down prior to trading on Monday . The stock had previously closed at $2.95, but opened at $2.86. Banco Bradesco shares last traded at $2.8750, with a volume of 4,614 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

Banco Bradesco Stock Performance

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 fifty day moving average price of $3.02 and a two-hundred day moving average price of $2.78. The company has a market capitalization of $31.39 billion, a price-to-earnings ratio of 8.43 and a beta of 0.62.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, February 9th. Shareholders 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 1.3%. The ex-dividend date of this dividend is Tuesday, January 6th. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently modified their holdings of BBDO. Franklin Resources Inc. boosted its position 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. Goldman Sachs Group Inc. lifted its stake in shares of Banco Bradesco by 54.2% during the 1st 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 period. Caprock Group LLC acquired a new stake in shares of Banco Bradesco during the third quarter worth $410,000. Kathmere Capital Management LLC grew its position in shares of Banco Bradesco by 121.7% in the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock valued at $286,000 after purchasing an additional 57,451 shares during the period. Finally, D Orazio & Associates Inc. increased its stake in Banco Bradesco by 37.3% in the third quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock valued at $268,000 after purchasing an additional 24,822 shares during the last quarter.

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.