Banco Bradesco (NYSE:BBDO) Shares Down 24.3% - Time to Sell?

Key Points

• Banco Bradesco shares fell 24.3% to approximately $2.78, with trading volume 64% below the average session volume.
• Despite the sell-off, Weiss Ratings upgraded the stock to “buy,” and the sole analyst tracked by MarketBeat also rates it a Buy.
• The bank reported quarterly EPS of $0.12 on $7.75 billion in revenue and increased its monthly dividend to $0.0035, equivalent to a 1.5% annualized yield.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) traded down 24.3% during trading on Monday. The stock traded as low as $3.15 and last traded at $2.7790. Approximately 28,056 shares traded hands during trading, a decline of 64% from the average session volume of 78,260 shares. The stock had previously closed at $3.67.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of 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. Based on data from MarketBeat, the company has an average rating of "Buy".

Banco Bradesco Price Performance

The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The company has a market cap of $28.77 billion, a price-to-earnings ratio of 5.91 and a beta of 0.48. The company has a fifty day simple moving average of $3.31 and a two-hundred day simple moving average of $3.24.

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

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be paid a $0.0035 dividend. This is an increase from Banco Bradesco's previous monthly dividend of $0.0034. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. The ex-dividend date is Thursday, November 5th. Banco Bradesco's dividend payout ratio (DPR) is presently 39.13%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently made changes to their positions in BBDO. XXI Wealth LLC raised its holdings in Banco Bradesco by 156.1% during the third quarter. XXI Wealth LLC now owns 33,666 shares of the bank's stock worth $104,000 after purchasing an additional 20,519 shares during the last quarter. Intergy Private Wealth LLC increased its position in Banco Bradesco by 44.8% during the 3rd quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank's stock worth $63,000 after purchasing an additional 6,302 shares in the last quarter. QRG Capital Management Inc. boosted its position in shares of Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank's stock worth $64,000 after buying an additional 7,068 shares during the period. Ameritas Advisory Services LLC purchased a new stake in Banco Bradesco during the 2nd quarter worth $33,000. Finally, Royal Bank of Canada boosted its stake in Banco Bradesco by 307.2% during the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank's stock valued at $67,000 after acquiring an additional 15,180 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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