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

Key Points

• Trading volume surged 161% to 214,544 shares, while Banco Bradesco’s stock edged down 1.1% to $2.7350.
• Analyst sentiment remains mixed: Citigroup downgraded the stock to “neutral,” while Weiss Ratings upgraded it to “buy.” The shares carry an overall “Moderate Buy” consensus rating.
• Banco Bradesco reported quarterly earnings of $0.12 per share on $7.75 billion in revenue and raised its monthly dividend to $0.0035 per share, equivalent to a 1.5% annualized yield.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) shares saw an uptick in trading volume on Tuesday. 214,544 shares changed hands during trading, an increase of 161% from the average daily volume of 82,078 shares. The stock last traded at $2.7350 and had previously closed at $2.76.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Citigroup lowered shares of Banco Bradesco to a "neutral" rating in a research note on Tuesday. Weiss Ratings raised Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. One analyst has rated the stock with a Buy rating and one has given a Hold rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy".

Banco Bradesco Stock Down 1.1%

The company's fifty day simple moving average is $3.30 and its 200 day simple moving average is $3.28. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $28.92 billion, a P/E ratio of 5.92 and a beta of 0.48.

Banco Bradesco (NYSE:BBDO - Get Free Report) last released its quarterly earnings results on Thursday, October 22nd. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%. The business had revenue of $7.75 billion during the quarter.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be paid a dividend of $0.0035 per share. This is an increase from Banco Bradesco's previous monthly dividend of $0.0034. The ex-dividend date is Thursday, November 5th. This represents a $0.04 annualized dividend and a yield of 1.5%. Banco Bradesco's dividend payout ratio (DPR) is presently 4.35%.

Institutional Trading of Banco Bradesco

Institutional investors have recently bought and sold shares of the company. Ritholtz Wealth Management raised its position in Banco Bradesco by 202.8% in the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank's stock valued at $716,000 after purchasing an additional 145,684 shares during the period. Kathmere Capital Management LLC increased its position in Banco Bradesco by 33.5% during the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank's stock worth $861,000 after buying an additional 65,621 shares during the last quarter. Renaissance Technologies LLC lifted its position in shares of Banco Bradesco by 198.9% during the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank's stock worth $115,000 after purchasing an additional 23,289 shares during the last quarter. XXI Wealth LLC raised its stake in shares of Banco Bradesco by 156.1% in the 3rd quarter. XXI Wealth LLC now owns 33,666 shares of the bank's stock valued at $104,000 after buying an additional 20,519 shares in the last quarter. Finally, Cetera Investment Advisers grew its position in Banco Bradesco by 160.5% during the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank's stock worth $97,000 after acquiring an additional 18,168 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil's largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.

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