Banco Bradesco (NYSE:BBD) Shares Gap Down - Here's What Happened

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) shares gapped down before the market opened on Thursday . The stock had previously closed at $1.93, but opened at $1.89. Banco Bradesco shares last traded at $1.91, with a volume of 1,078,734 shares traded.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. lowered Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th.

Banco Bradesco Price Performance

The company's 50-day moving average price is $2.27 and its two-hundred day moving average price is $2.45. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The company has a market capitalization of $20.43 billion, a P/E ratio of 7.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion during the quarter, compared to analysts' expectations of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. As a group, sell-side analysts expect that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently announced a -- dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, January 3rd will be given a $0.0362 dividend. The ex-dividend date of this dividend is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco's payout ratio is presently 11.54%.

Institutional Trading of Banco Bradesco

Hedge funds and other institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new position in Banco Bradesco in the second quarter valued at about $49,000. Atomi Financial Group Inc. raised its holdings in shares of Banco Bradesco by 67.3% during the 2nd quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank's stock worth $201,000 after buying an additional 36,125 shares in the last quarter. Candriam S.C.A. acquired a new stake in Banco Bradesco in the second quarter valued at about $115,000. Ballentine Partners LLC raised its stake in Banco Bradesco by 93.1% during the second quarter. Ballentine Partners LLC now owns 87,520 shares of the bank's stock worth $196,000 after acquiring an additional 42,199 shares in the last quarter. Finally, Longfellow Investment Management Co. LLC grew its holdings in shares of Banco Bradesco by 63.7% during the 2nd quarter. Longfellow Investment Management Co. LLC now owns 503,398 shares of the bank's stock valued at $1,128,000 after purchasing an additional 195,863 shares during the last quarter.

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.