Banco Bradesco Target of Unusually Large Options Trading (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) was the recipient of some unusual options trading activity on Friday. Traders acquired 47,237 put options on the stock. This represents an increase of approximately 3,579% compared to the average daily volume of 1,284 put options.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price target for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

Banco Bradesco Stock Performance

Shares of BBD opened at $2.38 on Friday. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock’s fifty day simple moving average is $2.62 and its 200-day simple moving average is $2.54.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Research analysts predict that Banco Bradesco will post 0.34 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be issued a $0.0033 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 11.54%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors have recently modified their holdings of the stock. Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 170.5% during the third quarter. Massachusetts Financial Services Co. MA now owns 87,965,525 shares of the bank’s stock worth $233,988,000 after acquiring an additional 55,444,555 shares in the last quarter. Fisher Asset Management LLC grew its position in shares of Banco Bradesco by 19.2% in the 3rd quarter. Fisher Asset Management LLC now owns 75,833,254 shares of the bank’s stock valued at $201,716,000 after purchasing an additional 12,228,662 shares during the period. Wellington Management Group LLP increased its stake in Banco Bradesco by 15.1% during the 3rd quarter. Wellington Management Group LLP now owns 47,046,779 shares of the bank’s stock worth $125,144,000 after purchasing an additional 6,171,193 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new position in Banco Bradesco in the third quarter valued at approximately $104,542,000. Finally, Itau Unibanco Holding S.A. increased its position in shares of Banco Bradesco by 56.8% during the third quarter. Itau Unibanco Holding S.A. now owns 37,616,918 shares of the bank’s stock worth $100,061,000 after acquiring an additional 13,627,768 shares in the last quarter.

About Banco Bradesco

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.