Banco Bradesco (NYSE:BBDO) Sees Strong Trading Volume – Should You Buy?

Banco Bradesco SA (NYSE:BBDO) shares saw strong trading volume on Tuesday . Approximately 189,018 shares were traded during mid-day trading, an increase of 152% from the previous session’s volume of 74,892 shares.The stock last traded at $3.29 and had previously closed at $3.25.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered shares of Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy”.

Banco Bradesco Stock Performance

The stock has a 50-day moving average of $3.06 and a 200 day moving average of $3.28. The stock has a market cap of $34.76 billion, a PE ratio of 8.40 and a beta of 0.56. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17.

Banco Bradesco (NYSE:BBDO) last issued its earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.The company had revenue of $13.07 billion during the quarter.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be issued a $0.0034 dividend. The ex-dividend date of this dividend is Wednesday, August 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio is currently 5.13%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently bought and sold shares of the company. O Shaughnessy Asset Management LLC boosted its holdings in Banco Bradesco by 79.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after purchasing an additional 1,360,089 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after buying an additional 181,299 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Banco Bradesco by 659,843.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after buying an additional 47,370,132 shares during the last quarter. Intergy Private Wealth LLC purchased a new stake in Banco Bradesco in the fourth quarter valued at $30,000. Finally, Ascent Group LLC acquired a new position in shares of Banco Bradesco in the 4th quarter valued at $112,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.