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

Key Points

• Banco Bradesco saw unusually heavy trading volume, with 174,197 shares traded Monday, up 137% from the prior session, while the stock rose slightly to $3.1250.
• Weiss Ratings downgraded the stock from "buy (b)" to "buy (b-)," though MarketBeat still shows a consensus Buy rating from analysts.
• The company reported recent quarterly EPS of $0.12 on revenue of $13.07 billion and also declared a monthly dividend of $0.0034 per share, yielding about 1.3%.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) saw unusually-strong trading volume on Monday . 174,197 shares changed hands during mid-day trading, an increase of 137% from the previous session's volume of 73,455 shares.The stock last traded at $3.1250 and had previously closed at $3.09.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Banco Bradesco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

Banco Bradesco Stock Up 1.3%

The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The firm's 50-day moving average price is $3.05 and its 200 day moving average price is $3.27. The firm has a market capitalization of $33.17 billion, a price-to-earnings ratio of 8.02 and a beta of 0.56.

Banco Bradesco (NYSE:BBDO - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The bank reported $0.12 earnings per share (EPS) for the quarter. The firm had revenue of $13.07 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be given a $0.0034 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco's dividend payout ratio is currently 20.51%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BBDO. Intergy Private Wealth LLC purchased a new position in Banco Bradesco during the fourth quarter worth about $30,000. Cetera Investment Advisers acquired a new stake in shares of Banco Bradesco during the 4th quarter worth $32,000. Renaissance Technologies LLC acquired a new position in Banco Bradesco in the fourth quarter valued at $34,000. Tocqueville Asset Management L.P. acquired a new position in Banco Bradesco in the fourth quarter valued at $37,000. Finally, SmartHarvest Portfolios LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at about $39,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil's largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank's operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.

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