Banco Bradesco (NYSE:BBDO) Shares Gap Up to $2.65

Banco Bradesco S.A. (NYSE:BBDO)’s stock price gapped up prior to trading on Wednesday . The stock had previously closed at $2.65, but opened at $2.74. Banco Bradesco shares last traded at $2.67, with a volume of 680 shares.

Banco Bradesco Stock Performance

The stock has a market capitalization of $28.67 billion, a PE ratio of 10.96 and a beta of 0.92. The company has a quick ratio of 0.72, a current ratio of 0.70 and a debt-to-equity ratio of 2.19. The firm has a 50 day moving average price of $2.85 and a 200-day moving average price of $2.67.

Banco Bradesco (NYSE:BBDO) last announced its quarterly earnings results on Thursday, August 3rd. The bank reported $0.07 earnings per share for the quarter. The company had revenue of $9.83 billion during the quarter. Banco Bradesco had a return on equity of 9.53% and a net margin of 7.80%.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, October 10th. Investors of record on Tuesday, September 5th will be given a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a yield of 1.57%. The ex-dividend date of this dividend is Friday, September 1st. Banco Bradesco’s dividend payout ratio is currently 12.00%.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC acquired a new stake in Banco Bradesco in the second quarter valued at approximately $32,000. Envestnet Asset Management Inc. acquired a new stake in Banco Bradesco in the third quarter valued at approximately $36,000. Jane Street Group LLC acquired a new stake in Banco Bradesco in the first quarter valued at approximately $56,000. KCS Wealth Advisory acquired a new stake in Banco Bradesco in the first quarter valued at approximately $158,000. Finally, Ethic Inc. grew its holdings in Banco Bradesco by 25.1% in the first quarter. Ethic Inc. now owns 154,750 shares of the bank’s stock valued at $365,000 after purchasing an additional 31,066 shares during the period. 0.01% of the stock is currently owned by hedge funds and other institutional investors.

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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.