Banco Bradesco (NYSE:BBD) Shares Gap Down – What’s Next?

Banco Bradesco S.A. (NYSE:BBD)’s stock price gapped down prior to trading 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.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Down 5.6 %

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

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. As a group, sell-side analysts forecast that Banco Bradesco S.A. will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The firm also recently declared a — dividend, which will be paid on Monday, August 11th. Investors of record on Friday, January 3rd will be given a dividend of $0.0362 per share. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, January 3rd. Banco Bradesco’s payout ratio is 11.54%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of BBD. Massachusetts Financial Services Co. MA raised its stake in shares of Banco Bradesco by 170.5% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after purchasing an additional 55,444,555 shares during the period. Fisher Asset Management LLC increased its holdings in Banco Bradesco by 19.2% during the third quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock worth $201,716,000 after buying an additional 12,228,662 shares during the last quarter. Wellington Management Group LLP raised its position in Banco Bradesco by 15.1% in the third quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after acquiring an additional 6,171,193 shares during the period. Franklin Resources Inc. boosted its stake in Banco Bradesco by 2.6% in the third quarter. Franklin Resources Inc. now owns 44,989,586 shares of the bank’s stock valued at $120,122,000 after acquiring an additional 1,139,470 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in shares of Banco Bradesco during the 3rd quarter valued at approximately $104,542,000.

Banco Bradesco Company Profile

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.