Banco Bradesco (NYSE:BBD) Shares Gap Down – Time to Sell?

Banco Bradesco S.A. (NYSE:BBD)’s share price gapped down prior to trading on Monday . The stock had previously closed at $2.13, but opened at $2.08. Banco Bradesco shares last traded at $2.09, with a volume of 8,775,486 shares traded.

Analysts Set New Price Targets

A number of research firms have issued reports on BBD. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Price Performance

The stock has a market cap of $22.06 billion, a P/E ratio of 8.19, a price-to-earnings-growth ratio of 0.25 and a beta of 0.97. The firm has a 50-day moving average price of $2.52 and a 200-day moving average price of $2.52. 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 announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.09 by $0.01. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, analysts forecast that Banco Bradesco S.A. will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared 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. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 annualized dividend and a dividend yield of 1.91%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Institutional Trading of Banco Bradesco

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Insigneo Advisory Services LLC boosted its stake in shares of Banco Bradesco by 23.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC boosted its stake in shares of 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 during the last quarter. Blue Trust Inc. raised its holdings in Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares during the period. Daiwa Securities Group Inc. raised its holdings in 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 during the period. Finally, Simplicity Wealth LLC raised its holdings in Banco Bradesco by 11.9% during the second quarter. Simplicity Wealth LLC now owns 77,032 shares of the bank’s stock valued at $173,000 after acquiring an additional 8,165 shares during the period.

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.