Banco Bradesco (NYSE:BBD) Shares Gap Up - Time to Buy?

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) shares gapped up before the market opened on Tuesday . The stock had previously closed at $2.22, but opened at $2.28. Banco Bradesco shares last traded at $2.33, with a volume of 5,979,165 shares trading hands.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. HSBC upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price for the company in a research report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a "buy" rating to a "sell" rating and cut their price objective for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

Banco Bradesco Stock Performance

The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The stock has a market cap of $24.10 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The firm's 50-day moving average is $2.10 and its two-hundred day moving average is $2.25.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, research analysts expect that Banco Bradesco S.A. will post 0.37 EPS for the current year.

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Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be given a $0.0398 dividend. The ex-dividend date is Wednesday, April 2nd. This represents a $0.48 dividend on an annualized basis and a dividend yield of 21.06%. This is a boost from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is currently 6.67%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Townsquare Capital LLC acquired a new stake in Banco Bradesco in the 3rd quarter worth approximately $37,000. R Squared Ltd acquired a new stake in shares of Banco Bradesco in the fourth quarter worth $30,000. Traveka Wealth LLC bought a new stake in shares of Banco Bradesco during the 4th quarter worth $31,000. Peapack Gladstone Financial Corp grew its stake in Banco Bradesco by 54.5% in the 4th quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank's stock valued at $32,000 after buying an additional 6,000 shares during the last quarter. Finally, Blue Trust Inc. grew its stake in Banco Bradesco by 78.2% in the 4th quarter. Blue Trust Inc. now owns 20,055 shares of the bank's stock valued at $38,000 after buying an additional 8,801 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.