Banco Bradesco (NYSE:BBDO) Sees Strong Trading Volume – Here’s What Happened

Banco Bradesco SA (NYSE:BBDO) shares saw an uptick in trading volume on Tuesday . Approximately 189,018 shares were traded during trading, an increase of 152% from the previous session’s volume of 74,892 shares.The stock last traded at $3.29 and had previously closed at $3.25.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has an average rating of “Buy”.

Banco Bradesco Trading Up 0.3%

The business’s 50-day simple moving average is $3.06 and its 200-day simple moving average is $3.28. The company has a market cap of $34.00 billion, a PE ratio of 8.21 and a beta of 0.56. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17.

Banco Bradesco (NYSE:BBDO) last posted its quarterly earnings results on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%. The business had revenue of $13.07 billion for the quarter.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a $0.0034 dividend. The ex-dividend date is Wednesday, August 5th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s payout ratio is 20.51%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently made changes to their positions in BBDO. Goldman Sachs Group Inc. lifted its holdings 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 valued at $1,073,000 after buying an additional 181,299 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in Banco Bradesco in the third quarter valued at approximately $72,000. Franklin Resources Inc. grew its position in Banco Bradesco by 659,843.0% in 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 in the last quarter. Citadel Advisors LLC increased its stake in shares of Banco Bradesco by 25.7% during the 3rd quarter. Citadel Advisors LLC now owns 64,258 shares of the bank’s stock worth $188,000 after purchasing an additional 13,129 shares during the last quarter. Finally, Ascent Group LLC bought a new position in shares of Banco Bradesco during the 4th quarter valued at $112,000.

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.