Banco Bradesco (NYSE:BBD) Shares Gap Down – Should You Sell?

Banco Bradesco S.A. (NYSE:BBD) 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 trading hands.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Performance

The company has a market capitalization of $19.69 billion, a P/E ratio of 7.12, a P/E/G ratio of 0.32 and a beta of 0.94. 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 company’s fifty day moving average is $2.20 and its 200 day moving average is $2.43.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating 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 company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. As a group, equities analysts anticipate that Banco Bradesco S.A. will post 0.33 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently announced a — dividend, which will be paid on Monday, August 11th. Shareholders 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 presently 11.54%.

Institutional Investors Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently modified their holdings of the company. Insigneo Advisory Services LLC increased its holdings in shares of Banco Bradesco by 23.9% in the 3rd quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock worth $59,000 after buying an additional 4,260 shares during the last quarter. Inspire Advisors LLC raised its holdings in Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after purchasing an additional 4,737 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after purchasing an additional 5,623 shares during the period. Daiwa Securities Group Inc. boosted its stake in shares of Banco Bradesco by 1.1% during the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after purchasing an additional 8,000 shares in the last quarter. Finally, Atria Investments Inc increased its position in shares of Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock valued at $117,000 after buying an additional 8,641 shares during the period.

About Banco Bradesco

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.