Banco Bradesco (NYSE:BBD) Shares Gap Down - What's Next?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report)'s stock price gapped down before the market opened on Thursday . The stock had previously closed at $1.91, but opened at $1.87. Banco Bradesco shares last traded at $1.92, with a volume of 5,981,735 shares.

Analyst Ratings Changes

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

Banco Bradesco Trading Up 2.6 %

The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $2.20 and a 200-day moving average price of $2.43. The company has a market cap of $20.86 billion, a P/E ratio of 7.54, a PEG ratio of 0.32 and a beta of 0.94.

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

Banco Bradesco Cuts Dividend

The firm also recently declared a -- dividend, which will be paid on Monday, August 11th. Investors of record on Friday, January 3rd will be issued a dividend of $0.0362 per share. This represents a yield of 6.2%. The ex-dividend date is Friday, January 3rd. Banco Bradesco's payout ratio is currently 11.54%.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in shares of Banco Bradesco by 152.6% during the 3rd quarter. JPMorgan Chase & Co. now owns 274,790 shares of the bank's stock worth $731,000 after acquiring an additional 166,008 shares during the last quarter. SPX Gestao de Recursos Ltda boosted its position in Banco Bradesco by 217.0% during the third quarter. SPX Gestao de Recursos Ltda now owns 3,608,320 shares of the bank's stock worth $9,598,000 after purchasing an additional 2,470,135 shares during the period. Franklin Resources Inc. increased its holdings in shares of Banco Bradesco by 2.6% in the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank's stock valued at $120,122,000 after purchasing an additional 1,139,470 shares during the last quarter. XTX Topco Ltd bought a new position in shares of Banco Bradesco in the third quarter valued at about $1,590,000. Finally, iA Global Asset Management Inc. acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth about $404,000.

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.