Banco Bradesco (NYSE:BBDO) Shares Gap Up – Here’s What Happened
by Renee Jackson · The Cerbat GemBanco Bradesco SA (NYSE:BBDO – Get Free Report)’s stock price gapped up before the market opened on Wednesday . The stock had previously closed at $2.82, but opened at $2.98. Banco Bradesco shares last traded at $2.9340, with a volume of 717 shares traded.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday. One research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.
Read Our Latest Research Report on Banco Bradesco
Banco Bradesco Trading Up 0.0%
The business has a 50-day moving average of $3.02 and a 200 day moving average of $2.78. The stock has a market cap of $31.30 billion, a PE ratio of 8.42 and a beta of 0.62. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12.
Banco Bradesco Cuts Dividend
The firm also recently declared a monthly dividend, which will be paid on Monday, February 9th. Shareholders of record on Tuesday, January 6th will be paid a dividend of $0.0031 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Tuesday, January 6th. Banco Bradesco’s dividend payout ratio is currently 5.71%.
Institutional Investors Weigh In On Banco Bradesco
A number of hedge funds and other institutional investors have recently made changes to their positions in BBDO. Goldman Sachs Group Inc. increased its stake in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 181,299 shares during the last quarter. Farther Finance Advisors LLC boosted its position in shares of Banco Bradesco by 5,542.4% in the second quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock worth $30,000 after acquiring an additional 10,974 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in Banco Bradesco by 121.7% in the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock valued at $286,000 after purchasing an additional 57,451 shares during the period. D Orazio & Associates Inc. increased its position in Banco Bradesco by 432.0% during the second quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank’s stock worth $182,000 after purchasing an additional 54,085 shares during the last quarter. Finally, Aprio Wealth Management LLC acquired a new position in Banco Bradesco during the first quarter worth approximately $43,000.
Banco Bradesco Company Profile
Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.
The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.