Banco Bradesco (NYSE:BBDO) Sees Unusually-High Trading Volume - Here's What Happened

Key Points

• Banco Bradesco experienced a 64% increase in trading volume, with approximately 98,142 shares exchanged, while the stock price last traded at $2.45.
• The bank announced a dividend of $0.0021 per share, with a correspondingly high dividend yield of 101.0% and a relatively low dividend payout ratio of 5.71%.
• Institutional investors, including Northern Trust Corp and O Shaughnessy Asset Management LLC, have significantly increased their stakes in Banco Bradesco, showcasing growing interest among hedge funds.

Shares of Banco Bradesco SA (NYSE:BBDO - Get Free Report) saw unusually-strong trading volume on Monday . Approximately 98,142 shares changed hands during trading, an increase of 64% from the previous session's volume of 59,663 shares.The stock last traded at $2.45 and had previously closed at $2.44.

Banco Bradesco Stock Performance

The stock has a market capitalization of $26.18 billion, a price-to-earnings ratio of 7.03 and a beta of 0.76. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. The stock's 50 day moving average is $2.57 and its two-hundred day moving average is $2.23.

Banco Bradesco (NYSE:BBDO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter. Banco Bradesco had a net margin of 9.76% and a return on equity of 13.02%.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a dividend, which will be paid on Thursday, September 11th. Stockholders of record on Wednesday, August 6th will be paid a dividend of $0.0021 per share. This represents a dividend yield of 101.0%. The ex-dividend date is Tuesday, August 5th. Banco Bradesco's dividend payout ratio is currently 5.71%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds have recently bought and sold shares of the company. Northern Trust Corp increased its stake in Banco Bradesco by 8.9% in the fourth quarter. Northern Trust Corp now owns 117,991 shares of the bank's stock valued at $211,000 after acquiring an additional 9,627 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of Banco Bradesco by 402.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank's stock worth $74,000 after buying an additional 33,126 shares during the last quarter. Kathmere Capital Management LLC bought a new stake in shares of Banco Bradesco during the first quarter worth $98,000. BSW Wealth Partners grew its stake in shares of Banco Bradesco by 29.7% during the first quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after buying an additional 7,027 shares during the last quarter. Finally, D Orazio & Associates Inc. acquired a new position in shares of Banco Bradesco during the first quarter worth $26,000.

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.

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