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

Banco Bradesco SA (NYSE:BBD - Get Free Report) shares gapped down before the market opened 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 traded.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research report 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 investment analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, Banco Bradesco has an average rating of "Hold" and a consensus price target of $2.40.

Banco Bradesco Stock Performance

The company has a market cap of $30.86 billion, a PE ratio of 9.06, a PEG ratio of 0.42 and a beta of 0.71. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.76 and a current ratio of 0.76. The firm's 50 day moving average is $2.88 and its 200-day moving average is $2.38.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate 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 analysts' expectations of $31.24 billion. On average, research analysts anticipate that Banco Bradesco SA will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

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

Institutional Trading of Banco Bradesco

Hedge funds have recently made changes to their positions in the company. Northern Trust Corp grew its stake in shares of Banco Bradesco by 11.4% in the 4th quarter. Northern Trust Corp now owns 4,117,017 shares of the bank's stock valued at $7,864,000 after buying an additional 421,994 shares during the period. BNP Paribas Financial Markets grew its stake in shares of Banco Bradesco by 431.3% in the 4th quarter. BNP Paribas Financial Markets now owns 7,205,238 shares of the bank's stock valued at $13,762,000 after buying an additional 5,848,994 shares during the period. Raymond James Financial Inc. purchased a new position in shares of Banco Bradesco during the 4th quarter worth approximately $3,222,000. Natixis Advisors LLC boosted its position in shares of Banco Bradesco by 1,334.2% during the 4th quarter. Natixis Advisors LLC now owns 3,759,101 shares of the bank's stock worth $7,180,000 after purchasing an additional 3,496,994 shares during the period. Finally, HighTower Advisors LLC boosted its position in shares of Banco Bradesco by 27.2% during the 4th quarter. HighTower Advisors LLC now owns 25,317 shares of the bank's stock worth $48,000 after purchasing an additional 5,421 shares during the period.

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.