Banco Bradesco Sees Unusually High Options Volume (NYSE:BBD)

Key Points

• Banco Bradesco saw a sharp surge in options activity: Investors purchased 30,707 call options, 1,569% above the typical volume of 1,840 contracts.
• The stock declined 2.5% to $3.38 amid a Weiss Ratings downgrade from “buy” to “hold.” Analysts maintain a “Moderate Buy” consensus, while the company reported quarterly EPS of $0.12 on $6.77 billion in revenue.
• Bradesco declared a monthly dividend of $0.0037 per share, implying a 1.3% annualized yield; several institutional investors also increased or initiated positions during the second quarter.

Banco Bradesco SA (NYSE:BBD - Get Free Report) was the recipient of unusually large options trading on Thursday. Stock investors acquired 30,707 call options on the company. This represents an increase of 1,569% compared to the typical volume of 1,840 call options.

Wall Street Analyst Weigh In

Separately, Weiss Ratings lowered Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, Banco Bradesco currently has a consensus rating of "Moderate Buy".

Banco Bradesco Stock Down 2.5%

NYSE BBD traded down $0.09 on Thursday, hitting $3.38. The stock had a trading volume of 11,671,385 shares, compared to its average volume of 34,693,934. The business's fifty day moving average price is $3.42 and its 200 day moving average price is $3.55. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. Banco Bradesco has a 52-week low of $2.98 and a 52-week high of $4.30. The stock has a market cap of $35.76 billion, a price-to-earnings ratio of 8.04, a price-to-earnings-growth ratio of 0.55 and a beta of 0.52.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. The firm had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Equities research analysts anticipate that Banco Bradesco will post 0.5 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Shareholders of record on Monday, October 5th will be paid a $0.0037 dividend. The ex-dividend date is Monday, October 5th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco's dividend payout ratio (DPR) is 4.76%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently added to or reduced their stakes in BBD. QRG Capital Management Inc. boosted its stake in Banco Bradesco by 16.3% in the 2nd quarter. QRG Capital Management Inc. now owns 201,615 shares of the bank's stock worth $700,000 after purchasing an additional 28,320 shares in the last quarter. ABS Direct Equity Fund LLC acquired a new position in Banco Bradesco during the 2nd quarter valued at approximately $1,270,000. Tidal Investments LLC increased its stake in Banco Bradesco by 1.9% during the 2nd quarter. Tidal Investments LLC now owns 160,721 shares of the bank's stock valued at $558,000 after purchasing an additional 2,990 shares in the last quarter. Integrated Wealth Concepts LLC raised its holdings in shares of Banco Bradesco by 11.6% in the second quarter. Integrated Wealth Concepts LLC now owns 163,460 shares of the bank's stock worth $567,000 after buying an additional 16,998 shares during the last quarter. Finally, Carrhae Capital LLP purchased a new position in shares of Banco Bradesco in the second quarter worth $15,560,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.

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