Stock Traders Purchase High Volume of Put Options on Banco Bradesco (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD) was the target of some unusual options trading on Wednesday. Investors purchased 20,124 put options on the company. This represents an increase of 621% compared to the average volume of 2,790 put options.

Banco Bradesco Price Performance

Shares of Banco Bradesco stock traded down $0.07 on Wednesday, hitting $4.45. 18,401,229 shares of the company were exchanged, compared to its average volume of 35,408,031. The company has a 50-day moving average price of $3.43 and a 200 day moving average price of $3.55. 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 stock has a market capitalization of $47.10 billion, a price-to-earnings ratio of 10.54, a price-to-earnings-growth ratio of 0.67 and a beta of 0.46. Banco Bradesco has a 1-year low of $2.98 and a 1-year high of $4.58.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. The company had revenue of $6.77 billion during the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. As a group, sell-side analysts predict that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The firm also recently announced a special dividend, which will be paid on Monday, May 10th. Investors of record on Thursday, October 15th will be issued a $0.0728 dividend. The ex-dividend date of this dividend is Thursday, October 15th. Banco Bradesco’s dividend payout ratio is 7.14%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Global Wealth Strategies & Associates acquired a new stake in Banco Bradesco during the 2nd quarter worth $38,000. Diversify Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter valued at approximately $43,000. Wayfinding Financial LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter worth $40,000. Tenzing Financial LLC purchased a new stake in Banco Bradesco during the fourth quarter worth about $48,000. Finally, Modern Wealth Management LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter worth approximately $55,000.

Wall Street Analyst Weigh In

A number of research firms recently commented on BBD. JPMorgan Chase & Co. raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday. Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Finally, Bradesco Corretora upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday. Three equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy”.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.