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

Banco Bradesco S.A. (NYSE:BBD) gapped down prior to trading 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 trading hands.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

Banco Bradesco Price Performance

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 firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 0.32 and a beta of 0.94. The business’s fifty day simple moving average is $2.34 and its 200 day simple moving average is $2.47.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, research analysts forecast that Banco Bradesco S.A. will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date is Wednesday, December 4th. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.69%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the business. SG Americas Securities LLC bought a new stake in Banco Bradesco during the second quarter worth $49,000. GAM Holding AG increased its position in shares of Banco Bradesco by 33.3% during the second quarter. GAM Holding AG now owns 100,000 shares of the bank’s stock valued at $224,000 after acquiring an additional 25,000 shares during the last quarter. Atomi Financial Group Inc. boosted its position in Banco Bradesco by 67.3% in the second quarter. Atomi Financial Group Inc. now owns 89,818 shares of the bank’s stock worth $201,000 after purchasing an additional 36,125 shares during the last quarter. Banco Santander S.A. increased its position in shares of Banco Bradesco by 50.5% during the 2nd quarter. Banco Santander S.A. now owns 2,547,166 shares of the bank’s stock valued at $5,706,000 after purchasing an additional 854,212 shares during the last quarter. Finally, Candriam S.C.A. bought a new stake in shares of Banco Bradesco during the 2nd quarter worth $115,000.

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.