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

Banco Bradesco SA (NYSE:BBD - Get Free Report) gapped down prior to trading on Thursday . The stock had previously closed at $3.01, but opened at $2.92. Banco Bradesco shares last traded at $2.94, with a volume of 5,221,972 shares trading hands.

Analysts Set New Price Targets

Several research analysts have recently commented on the stock. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America raised shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Trading Down 0.7%

The company's 50 day moving average price is $2.87 and its 200 day moving average price is $2.37. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market cap of $30.86 billion, a PE ratio of 9.06, a price-to-earnings-growth ratio of 0.43 and a beta of 0.71.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. The company had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. As a group, analysts forecast that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently declared a -- dividend, which will be paid on Tuesday, February 10th. Investors of record on Wednesday, July 2nd will be paid a $0.0351 dividend. The ex-dividend date is Wednesday, July 2nd. This represents a yield of 4.7%. Banco Bradesco's dividend payout ratio is currently 9.38%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBD. ARGA Investment Management LP lifted its stake in Banco Bradesco by 53.0% in the first quarter. ARGA Investment Management LP now owns 126,724,278 shares of the bank's stock worth $282,595,000 after acquiring an additional 43,884,334 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after acquiring an additional 17,853,712 shares during the last quarter. Wellington Management Group LLP lifted its stake in Banco Bradesco by 22.7% in the first quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank's stock worth $155,393,000 after acquiring an additional 12,873,188 shares during the last quarter. Moerus Capital Management LLC purchased a new position in Banco Bradesco in the first quarter worth approximately $27,372,000. Finally, Massachusetts Financial Services Co. MA lifted its stake in Banco Bradesco by 13.9% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 100,202,214 shares of the bank's stock worth $191,386,000 after acquiring an additional 12,236,689 shares during the last quarter.

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.