Banco Bradesco (BBD) Shares Gap Up to $11.16

Banco Bradesco SA (NYSE:BBD)’s share price gapped up before the market opened on Friday . The stock had previously closed at $10.88, but opened at $11.16. Banco Bradesco shares last traded at $11.33, with a volume of 11856130 shares trading hands.

Several equities analysts have recently commented on BBD shares. ValuEngine lowered Banco Bradesco from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 31st. Zacks Investment Research raised Banco Bradesco from a “sell” rating to a “hold” rating in a report on Wednesday, November 8th. Citigroup raised Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, January 18th. Finally, JPMorgan Chase & Co. raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Monday, January 22nd. Two analysts have rated the stock with a hold rating, four have given a buy rating and two have assigned a strong buy rating to the company. Banco Bradesco presently has an average rating of “Buy” and an average target price of $12.20.

The company has a market cap of $77,043.12, a price-to-earnings ratio of 11.68, a P/E/G ratio of 0.98 and a beta of 1.89.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, February 1st. The bank reported $0.25 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.22 by $0.03. The company had revenue of $9.90 billion during the quarter, compared to analyst estimates of $8.20 billion. Banco Bradesco had a return on equity of 17.54% and a net margin of 9.87%. equities research analysts expect that Banco Bradesco SA will post 0.96 EPS for the current fiscal year.

The firm also recently disclosed a special dividend, which will be paid on Monday, March 12th. Investors of record on Monday, February 5th will be issued a $0.005 dividend. This represents a yield of 0.000438212094653812%. The ex-dividend date is Friday, February 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 7.91%.

Hedge funds have recently modified their holdings of the stock. Cutler Investment Counsel LLC bought a new position in Banco Bradesco in the 3rd quarter worth approximately $131,000. Empirical Finance LLC bought a new position in Banco Bradesco in the 3rd quarter worth approximately $144,000. Quantitative Systematic Strategies LLC bought a new position in Banco Bradesco in the 4th quarter worth approximately $151,000. Advisor Partners LLC bought a new position in Banco Bradesco in the 4th quarter worth approximately $161,000. Finally, Fox Run Management L.L.C. bought a new position in Banco Bradesco in the 3rd quarter worth approximately $183,000. 2.83% of the stock is owned by institutional investors and hedge funds.

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About Banco Bradesco

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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