Banco Bradesco (NYSE:BBD) Shares Gap Down - Time to Sell?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) shares gapped down before the market opened on Wednesday . The stock had previously closed at $2.00, but opened at $1.94. Banco Bradesco shares last traded at $1.92, with a volume of 5,035,299 shares.

Wall Street Analyst Weigh In

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

Banco Bradesco Stock Performance

The business has a 50-day moving average price of $2.37 and a 200-day moving average price of $2.47. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $19.93 billion, a price-to-earnings ratio of 7.19, a P/E/G ratio of 0.32 and a beta of 0.94.

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

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Shareholders of record on Wednesday, December 4th will be issued a $0.0033 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.12%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's dividend payout ratio (DPR) is currently 7.69%.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. SPX Gestao de Recursos Ltda increased its holdings in shares of Banco Bradesco by 217.0% in the third quarter. SPX Gestao de Recursos Ltda now owns 3,608,320 shares of the bank's stock valued at $9,598,000 after purchasing an additional 2,470,135 shares during the period. Franklin Resources Inc. boosted its position in 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 buying an additional 1,139,470 shares during the last quarter. XTX Topco Ltd acquired a new position in Banco Bradesco in the 3rd quarter worth approximately $1,590,000. iA Global Asset Management Inc. purchased a new position in Banco Bradesco during the 3rd quarter worth approximately $404,000. Finally, Insigneo Advisory Services LLC lifted its stake in Banco Bradesco by 23.9% during the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank's stock valued at $59,000 after acquiring an additional 4,260 shares during the period.

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.