Banco Bradesco (NYSE:BBDO) Shares Gap Down - Here's What Happened

Key Points

• Banco Bradesco's shares gapped down prior to trading, opening at $2.74 after closing at $2.87, and last traded at $2.82 with a volume of 3,648 shares.
• The company recently announced a dividend of $0.0032 per share with an annualized yield of 1.4%, payable to investors of record on October 3rd.
• Institutional investors have been active, with notable changes including a 29.7% increase in position by BSW Wealth Partners during the first quarter and significant stakes acquired by other firms in the second quarter.

Banco Bradesco SA (NYSE:BBDO - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $2.87, but opened at $2.74. Banco Bradesco shares last traded at $2.82, with a volume of 3,648 shares changing hands.

Banco Bradesco Price Performance

The stock has a market cap of $29.96 billion, a P/E ratio of 8.04 and a beta of 0.82. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The company's fifty day simple moving average is $2.67 and its 200-day simple moving average is $2.46.

Banco Bradesco (NYSE:BBDO - Get Free Report) last announced its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, November 10th. Investors of record on Friday, October 3rd will be issued a dividend of $0.0032 per share. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Friday, October 3rd. Banco Bradesco's dividend payout ratio (DPR) is currently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors have recently added to or reduced their stakes in the company. BSW Wealth Partners lifted its position in Banco Bradesco by 29.7% during the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after buying an additional 7,027 shares in the last quarter. Ritholtz Wealth Management acquired a new position in Banco Bradesco during the 2nd quarter worth about $30,000. Farther Finance Advisors LLC lifted its position in Banco Bradesco by 5,542.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank's stock worth $30,000 after buying an additional 10,974 shares in the last quarter. D Orazio & Associates Inc. acquired a new position in Banco Bradesco during the 1st quarter valued at about $26,000. Finally, Savant Capital LLC bought a new position in shares of Banco Bradesco in the 2nd quarter valued at about $51,000.

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.

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