Banco Bradesco (NYSE:BBDO) Stock Price Down 7.2% - Here's Why
Banco Bradesco's stock (NYSE:BBDO) fell 7.2% during mid-day trading, closing at $3.0350. The decline was accompanied by a trading volume decrease of 7% from the average. Weiss Ratings reiterated a "hold" rating, and the stock has a market cap of $32.25 billion. Banco Bradesco increased its monthly dividend, with a yield of 1.3%. Several hedge funds adjusted their stakes in the company. Banco Bradesco offers various banking and insurance services in Brazil and internationally.
Banco Bradesco SA (NYSE:BBDO - Get Free Report) fell 7.2% during mid-day trading on Friday . The stock traded as low as $3.00 and last traded at $3.0350. 49,609 shares were traded during trading, a decline of 7% from the average session volume of 53,111 shares. The stock had previously closed at $3.27.
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Analyst Upgrades and Downgrades
Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Banco Bradesco in a report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Banco Bradesco currently has an average rating of "Hold".
View Our Latest Research Report on Banco Bradesco
Banco Bradesco Trading Down 7.3%
The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The company's 50-day moving average is $2.93 and its 200-day moving average is $2.69. The stock has a market capitalization of $32.25 billion, a price-to-earnings ratio of 8.73 and a beta of 0.81.
Banco Bradesco Increases Dividend
The company also recently declared a monthly dividend, which will be paid on Friday, January 9th. Stockholders of record on Wednesday, December 3rd will be issued a dividend of $0.0032 per share. The ex-dividend date is Wednesday, December 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is 5.71%.
Institutional Inflows and Outflows
Several hedge funds have recently added to or reduced their stakes in BBDO. Ritholtz Wealth Management acquired a new stake in Banco Bradesco during the second quarter worth $30,000. Farther Finance Advisors LLC increased its position in shares of Banco Bradesco by 5,542.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank's stock worth $30,000 after purchasing an additional 10,974 shares during the last quarter. Compound Planning Inc. acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth about $35,000. Aprio Wealth Management LLC purchased a new stake in Banco Bradesco in the 1st quarter valued at about $43,000. Finally, Savant Capital LLC acquired a new position in Banco Bradesco in the second quarter valued at about $51,000.
About Banco Bradesco
(Get Free Report)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.
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