Banco Bradesco (NYSE:BBD) Shares Up 4.2% Following Dividend Announcement

Banco Bradesco SA (NYSE:BBD)’s stock price was up 4.2% during mid-day trading on Thursday after the company announced a dividend. The company traded as high as $3.56 and last traded at $3.5750. Approximately 9,169,181 shares changed hands during trading, a decline of 74% from the average session volume of 35,144,758 shares. The stock had previously closed at $3.43.

The newly announced dividend which will be paid on Tuesday, November 10th. Shareholders of record on Monday, October 5th will be issued a $0.0037 dividend. The ex-dividend date is Monday, October 5th. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco’s payout ratio is 4.76%.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy”.

Banco Bradesco Stock Up 0.4%

The firm has a 50-day moving average of $3.42 and a two-hundred day moving average of $3.58. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a market capitalization of $38.10 billion, a PE ratio of 8.56, a price-to-earnings-growth ratio of 0.55 and a beta of 0.52.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The company had revenue of $6.77 billion for the quarter. On average, equities research analysts forecast that Banco Bradesco SA will post 0.5 EPS for the current year.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently bought and sold shares of BBD. EverSource Wealth Advisors LLC raised its stake in shares of Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after acquiring an additional 4,353 shares during the period. Brooklyn Investment Group boosted its position in Banco Bradesco by 1,276.5% during the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after purchasing an additional 9,842 shares during the period. Global Wealth Strategies & Associates acquired a new stake in Banco Bradesco in the 2nd quarter valued at $38,000. Diversify Wealth Management LLC acquired a new stake in Banco Bradesco in the 1st quarter valued at $43,000. Finally, Ballentine Partners LLC purchased a new position in Banco Bradesco in the fourth quarter valued at about $41,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.