Banco Bradesco Sees Unusually Large Options Volume (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD) saw some unusual options trading activity on Thursday. Stock investors bought 30,707 call options on the stock. This is an increase of approximately 1,569% compared to the typical volume of 1,840 call options.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently added to or reduced their stakes in BBD. QRG Capital Management Inc. increased its holdings in Banco Bradesco by 16.3% in the 2nd quarter. QRG Capital Management Inc. now owns 201,615 shares of the bank’s stock worth $700,000 after acquiring an additional 28,320 shares in the last quarter. ABS Direct Equity Fund LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth $1,270,000. Tidal Investments LLC raised its holdings in Banco Bradesco by 1.9% during the second quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock valued at $558,000 after acquiring an additional 2,990 shares during the period. Integrated Wealth Concepts LLC lifted its position in shares of Banco Bradesco by 11.6% in the second quarter. Integrated Wealth Concepts LLC now owns 163,460 shares of the bank’s stock valued at $567,000 after acquiring an additional 16,998 shares in the last quarter. Finally, Carrhae Capital LLP purchased a new position in shares of Banco Bradesco in the second quarter valued at about $15,560,000.

Banco Bradesco Trading Down 2.2%

NYSE:BBD opened at $3.38 on Friday. The company has a 50-day moving average price of $3.41 and a 200-day moving average price of $3.55. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market cap of $35.87 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 0.55 and a beta of 0.53. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.30.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. The business had revenue of $6.77 billion for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. Equities analysts predict that Banco Bradesco will post 0.5 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Monday, October 5th will be issued a dividend of $0.0037 per share. The ex-dividend date of this dividend is Monday, October 5th. This is a decrease from Banco Bradesco’s previous monthly dividend of $0.0569. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio is currently 7.14%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy”.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.