Stock Traders Buy Large Volume of Banco Bradesco Put Options (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) was the recipient of some unusual options trading activity on Friday. Investors purchased 47,237 put options on the company. This is an increase of 3,579% compared to the average volume of 1,284 put options.

Banco Bradesco Stock Up 1.7 %

Shares of NYSE BBD traded up $0.04 during midday trading on Friday, hitting $2.39. 11,399,913 shares of the company’s stock were exchanged, compared to its average volume of 21,870,166. Banco Bradesco has a 12 month low of $2.16 and a 12 month high of $3.65. The company’s 50 day moving average price is $2.62 and its 200 day moving average price is $2.54. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Equities research analysts predict that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be paid a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 1.66%. Banco Bradesco’s payout ratio is currently 11.54%.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Massachusetts Financial Services Co. MA lifted its stake in shares of Banco Bradesco by 170.5% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock valued at $233,988,000 after purchasing an additional 55,444,555 shares during the period. Fisher Asset Management LLC lifted its stake in Banco Bradesco by 19.2% in the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after buying an additional 12,228,662 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Banco Bradesco during the 3rd quarter worth approximately $104,542,000. Itau Unibanco Holding S.A. grew its position in shares of Banco Bradesco by 56.8% during the 3rd quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after buying an additional 13,627,768 shares during the period. Finally, ARGA Investment Management LP increased its stake in shares of Banco Bradesco by 3.6% in the 3rd quarter. ARGA Investment Management LP now owns 26,287,136 shares of the bank’s stock valued at $69,924,000 after acquiring an additional 924,065 shares in the last quarter.

Banco Bradesco Company Profile

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.