Banco Bradesco (NYSE:BBDO) Shares Gap Up – What’s Next?

Shares of Banco Bradesco SA (NYSE:BBDO) gapped up before the market opened on Wednesday . The stock had previously closed at $2.99, but opened at $3.10. Banco Bradesco shares last traded at $2.99, with a volume of 3,881 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, Banco Bradesco currently has a consensus rating of “Hold”.

Banco Bradesco Trading Up 2.9%

The stock has a market cap of $33.59 billion, a P/E ratio of 7.55 and a beta of 0.54. The firm’s fifty day moving average price is $3.12 and its two-hundred day moving average price is $3.23. 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 Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be issued a $0.0034 dividend. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Thursday, September 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 7.14%.

Institutional Trading of Banco Bradesco

A number of large investors have recently modified their holdings of the business. Cetera Investment Advisers bought a new position in shares of Banco Bradesco in the fourth quarter worth approximately $32,000. Ameritas Advisory Services LLC bought a new stake in Banco Bradesco during the second quarter valued at approximately $33,000. Renaissance Technologies LLC purchased a new position in Banco Bradesco in the 4th quarter worth approximately $34,000. Tocqueville Asset Management L.P. purchased a new position in Banco Bradesco in the 4th quarter worth approximately $37,000. Finally, SmartHarvest Portfolios LLC bought a new position in shares of Banco Bradesco in the 4th quarter worth $39,000.

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.