Banco Bradesco (NYSE:BBDO) Sees Unusually-High Trading Volume After Dividend Announcement

Banco Bradesco SA (NYSE:BBDO) saw unusually-strong trading volume on Friday following a dividend announcement from the company. 141,172 shares were traded during trading, an increase of 58% from the average daily volume of 89,588 shares. The stock last traded at $2.47 and had previously closed at $2.37.

The newly announced dividend which will be paid on Monday, January 11th. Shareholders of record on Thursday, December 3rd will be given a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.5%. This is a negative change from Banco Bradesco’s previous monthly dividend of $0.0035. The ex-dividend date of this dividend is Thursday, December 3rd. Banco Bradesco’s dividend payout ratio (DPR) is presently 39.13%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Banco Bradesco from $80.00 to $56.00 and set an “overweight” rating on the stock in a research report on Thursday, July 30th. Argus cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, July 31st. UBS Group reduced their target price on shares of Banco Bradesco from $74.00 to $67.00 and set a “buy” rating for the company in a report on Thursday, July 30th. Wells Fargo & Company decreased their price target on shares of Banco Bradesco from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Thursday, July 30th. Finally, Citigroup cut shares of Banco Bradesco to a “neutral” rating in a report on Tuesday, October 27th. Eleven investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $73.58.

Banco Bradesco Trading Up 2.8%

The firm has a market capitalization of $25.77 billion, a P/E ratio of 5.32 and a beta of 0.57. The business’s 50-day moving average is $3.20 and its 200 day moving average is $3.26. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.72 and a quick ratio of 1.72.

Banco Bradesco (NYSE:BBDO) last issued its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. The business had revenue of $7.75 billion during the quarter.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently made changes to their positions in the stock. Ameritas Advisory Services LLC bought a new position in shares of Banco Bradesco in the second quarter worth $33,000. Park Avenue Securities LLC acquired a new position in Banco Bradesco in the third quarter valued at about $37,000. Royal Bank of Canada raised its stake in Banco Bradesco by 307.2% in the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after purchasing an additional 15,180 shares in the last quarter. Intergy Private Wealth LLC lifted its position in Banco Bradesco by 44.8% during the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock worth $63,000 after purchasing an additional 6,302 shares during the period. Finally, QRG Capital Management Inc. lifted its position in Banco Bradesco by 49.2% during the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after purchasing an additional 7,068 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.