Banco Bradesco (NYSE:BBD) Shares Gap Down to $2.88

Shares of Banco Bradesco S.A. (NYSE:BBD) gapped down prior to trading on Thursday . The stock had previously closed at $2.88, but opened at $2.82. Banco Bradesco shares last traded at $2.83, with a volume of 99,863 shares traded.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 0.54, a current ratio of 0.77 and a quick ratio of 0.77. The company has a market capitalization of $30.59 billion, a PE ratio of 12.48, a PEG ratio of 0.24 and a beta of 0.98. The company has a 50 day moving average of $2.41 and a two-hundred day moving average of $2.60.

Banco Bradesco Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be paid a $0.0035 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.45%. Banco Bradesco’s dividend payout ratio is currently 13.04%.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Fisher Asset Management LLC boosted its holdings in Banco Bradesco by 77.2% in the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after purchasing an additional 30,188,950 shares during the last quarter. Massachusetts Financial Services Co. MA increased its stake in shares of Banco Bradesco by 51.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock worth $112,715,000 after purchasing an additional 10,885,211 shares in the last quarter. Doma Perpetual Capital Management LLC lifted its position in Banco Bradesco by 403.4% during the second quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock valued at $25,096,000 after purchasing an additional 8,978,150 shares in the last quarter. Marshall Wace LLP increased its position in Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock worth $17,705,000 after buying an additional 7,783,248 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in shares of Banco Bradesco by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock worth $211,783,000 after buying an additional 7,478,762 shares during the period.

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.