Banco Bradesco Sees Unusually High Options Volume (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD) was the recipient of unusually large options trading activity on Tuesday. Investors acquired 31,304 call options on the company. This is an increase of 720% compared to the typical volume of 3,817 call options.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. Wall Street Zen upgraded Banco Bradesco to a “hold” rating in a report on Saturday. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $4.20 price objective on shares of Banco Bradesco in a report on Friday, October 9th. Finally, Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Four 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, Banco Bradesco has an average rating of “Moderate Buy” and an average target price of $4.05.

Banco Bradesco Price Performance

Shares of BBD stock traded up $0.17 on Tuesday, reaching $4.11. The company had a trading volume of 15,865,826 shares, compared to its average volume of 35,997,379. The business’s 50-day moving average is $3.55 and its 200 day moving average is $3.59. Banco Bradesco has a one year low of $2.98 and a one year high of $4.58. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $43.50 billion, a PE ratio of 9.73, a price-to-earnings-growth ratio of 0.61 and a beta of 0.46.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The firm had revenue of $6.77 billion during the quarter. Equities research analysts forecast that Banco Bradesco will post 0.50 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be issued a $0.0038 dividend. The ex-dividend date of this dividend is Thursday, November 5th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0037. This represents a $0.05 dividend on an annualized basis and a yield of 1.1%. Banco Bradesco’s dividend payout ratio is presently 47.62%.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors have recently added to or reduced their stakes in the stock. Global Wealth Strategies & Associates acquired a new position in Banco Bradesco during the second quarter worth $38,000. Wayfinding Financial LLC purchased a new stake in Banco Bradesco in the 2nd quarter valued at $40,000. Diversify Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter worth $43,000. Modern Wealth Management LLC acquired a new stake in shares of Banco Bradesco in the 1st quarter worth $55,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of Banco Bradesco by 62.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,858 shares of the bank’s stock worth $58,000 after acquiring an additional 6,074 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.