Banco Bradesco (NYSE:BBDO) Stock Price Down 24.3% – Time to Sell?

Shares of Banco Bradesco SA (NYSE:BBDO) were down 24.3% on Monday. The stock traded as low as $3.15 and last traded at $2.7790. 28,056 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 78,260 shares. The stock had previously closed at $3.67.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BBDO shares. Citigroup lowered shares of Banco Bradesco to a “neutral” rating in a research note on Tuesday. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One investment analyst has rated the stock with a Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy”.

Banco Bradesco Price Performance

The firm has a 50-day moving average of $3.29 and a 200-day moving average of $3.28.

Banco Bradesco (NYSE:BBDO) last issued its earnings results on Thursday, October 22nd. The bank reported $0.12 EPS for the quarter. The business had revenue of $7.75 billion for the quarter.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be given a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.5%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0034. The ex-dividend date of this dividend is Thursday, November 5th.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently bought and sold shares of BBDO. Park Avenue Securities LLC purchased a new position in shares of Banco Bradesco during the third quarter valued at approximately $37,000. XXI Wealth LLC lifted its position in Banco Bradesco by 156.1% during the third quarter. XXI Wealth LLC now owns 33,666 shares of the bank’s stock valued at $104,000 after purchasing an additional 20,519 shares during the period. Intergy Private Wealth LLC lifted its position in Banco Bradesco by 44.8% during the third quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock valued at $63,000 after purchasing an additional 6,302 shares during the period. QRG Capital Management Inc. boosted its holdings in Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock worth $64,000 after purchasing an additional 7,068 shares during the last quarter. Finally, Ameritas Advisory Services LLC purchased a new stake in Banco Bradesco in the second quarter worth approximately $33,000.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.