Banco Do Brasil (OTCMKTS:BDORY) Shares Gap Down - Here's Why

Key Points

• Banco Do Brasil shares experienced a significant decline, gapping down from a prior close of $3.77 to an opening price of $3.60, finally trading at $3.52.
• Analysts downgraded Banco Do Brasil to a "neutral" rating, a change reflecting potential concerns regarding the bank's financial performance.
• In its latest earnings report, Banco Do Brasil missed expectations by $0.07, reporting $0.22 earnings per share versus the consensus estimate of $0.29, despite a revenue of $6.83 billion that exceeded projections.

Banco Do Brasil SA (OTCMKTS:BDORY - Get Free Report)'s stock price gapped down prior to trading on Friday . The stock had previously closed at $3.77, but opened at $3.60. Banco Do Brasil shares last traded at $3.52, with a volume of 99,207 shares changing hands.

Analyst Ratings Changes

Separately, Bradesco Corretora downgraded shares of Banco Do Brasil to a "neutral" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a Hold rating, According to MarketBeat.com, the stock has an average rating of "Hold".

Banco Do Brasil Price Performance

The company's 50-day simple moving average is $3.83 and its 200-day simple moving average is $4.49. The stock has a market capitalization of $21.03 billion, a price-to-earnings ratio of 3.53, a P/E/G ratio of 1.93 and a beta of 0.59. The company has a debt-to-equity ratio of 5.97, a current ratio of 1.97 and a quick ratio of 1.97.

Banco Do Brasil Cuts Dividend

The firm also recently announced a dividend, which was paid on Monday, June 23rd. Stockholders of record on Thursday, June 5th were issued a dividend of $0.0104 per share. The ex-dividend date of this dividend was Wednesday, June 4th. This represents a dividend yield of 745.0%. Banco Do Brasil's dividend payout ratio (DPR) is currently 5.77%.

Banco Do Brasil Company Profile

Banco do Brasil SA provides banking products and services for individuals, companies, and public sectors in Brazil and internationally. The company's Banking segment offers various products and services, including deposits, loans, and services to retail, wholesale, and public sector markets, as well as to micro-entrepreneurs and the low income population.