Banco Bradesco (NYSE:BBDO) Sees Strong Trading Volume – What’s Next?

Banco Bradesco SA (NYSE:BBDO) saw strong trading volume on Wednesday . 133,449 shares changed hands during trading, an increase of 140% from the previous session’s volume of 55,678 shares.The stock last traded at $3.03 and had previously closed at $3.10.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. One equities research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Banco Bradesco currently has a consensus rating of “Buy”.

Banco Bradesco Trading Down 2.4%

The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. The stock’s 50 day moving average is $3.03 and its 200-day moving average is $2.80. The company has a market cap of $32.25 billion, a PE ratio of 8.64 and a beta of 0.60.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, February 9th. Investors of record on Tuesday, January 6th will be paid a $0.0031 dividend. The ex-dividend date of this dividend is Tuesday, January 6th. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco’s dividend payout ratio is 5.71%.

Hedge Funds Weigh In On Banco Bradesco

A number of large investors have recently added to or reduced their stakes in the company. Franklin Resources Inc. boosted its holdings in Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after acquiring an additional 47,370,132 shares in the last quarter. Goldman Sachs Group Inc. grew its position in Banco Bradesco by 54.2% during the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after buying an additional 181,299 shares during the period. Caprock Group LLC purchased a new position in shares of Banco Bradesco in the 3rd quarter valued at about $410,000. Kathmere Capital Management LLC increased its position in shares of Banco Bradesco by 121.7% in the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock valued at $286,000 after buying an additional 57,451 shares in the last quarter. Finally, D Orazio & Associates Inc. raised its position in Banco Bradesco by 37.3% during the third quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock worth $268,000 after acquiring an additional 24,822 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.