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

Banco Bradesco SA (NYSE:BBD) was the recipient of unusually large options trading on Thursday. Stock traders purchased 11,908 call options on the stock. This represents an increase of approximately 69% compared to the typical volume of 7,064 call options.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $2.40.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $250,398,000. Goldman Sachs Group Inc. raised its stake in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after buying an additional 17,853,712 shares in the last quarter. Fisher Asset Management LLC raised its stake in Banco Bradesco by 18.4% in the second quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank’s stock worth $272,225,000 after buying an additional 13,682,255 shares in the last quarter. Acadian Asset Management LLC purchased a new stake in Banco Bradesco during the second quarter worth $41,113,000. Finally, Wellington Management Group LLP boosted its position in Banco Bradesco by 22.7% during the 1st quarter. Wellington Management Group LLP now owns 69,682,931 shares of the bank’s stock valued at $155,393,000 after acquiring an additional 12,873,188 shares in the last quarter.

Banco Bradesco Trading Up 1.0%

NYSE BBD traded up $0.04 during trading hours on Thursday, hitting $3.72. 11,947,617 shares of the company were exchanged, compared to its average volume of 43,550,992. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.77. The stock has a market cap of $39.54 billion, a PE ratio of 10.61, a price-to-earnings-growth ratio of 0.43 and a beta of 0.76. The stock has a 50-day moving average price of $3.30 and a 200 day moving average price of $3.02.

Banco Bradesco (NYSE:BBD) last released its earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $11.14 billion for the quarter, compared to the consensus estimate of $34.75 billion. Banco Bradesco had a return on equity of 13.16% and a net margin of 9.61%. Analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be issued a $0.0035 dividend. The ex-dividend date is Wednesday, December 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.1%. Banco Bradesco’s dividend payout ratio is presently 5.71%.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.