Banco Bradesco Target of Unusually High Options Trading (BBD)

Banco Bradesco SA (NYSE:BBD) saw unusually large options trading activity on Wednesday. Stock investors purchased 13,851 call options on the stock. This represents an increase of 2,106% compared to the typical volume of 628 call options.

A number of research firms have weighed in on BBD. Zacks Investment Research lowered shares of Banco Bradesco from a “hold” rating to a “strong sell” rating in a research note on Tuesday, June 19th. ValuEngine lowered shares of Banco Bradesco from a “sell” rating to a “strong sell” rating in a research note on Friday, June 15th. Finally, Bank of America restated a “buy” rating on shares of Banco Bradesco in a research note on Monday, May 21st. Two research analysts have rated the stock with a sell rating, one has given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $12.20.

A number of large investors have recently added to or reduced their stakes in BBD. Goldman Sachs Group Inc. increased its stake in Banco Bradesco by 220.8% during the 4th quarter. Goldman Sachs Group Inc. now owns 14,600,502 shares of the bank’s stock valued at $149,509,000 after purchasing an additional 10,048,713 shares in the last quarter. Renaissance Technologies LLC grew its stake in shares of Banco Bradesco by 1,000.5% in the fourth quarter. Renaissance Technologies LLC now owns 3,944,264 shares of the bank’s stock worth $40,389,000 after acquiring an additional 3,585,864 shares during the period. Amundi Pioneer Asset Management Inc. bought a new stake in shares of Banco Bradesco in the fourth quarter worth approximately $25,631,000. BlackRock Inc. grew its stake in shares of Banco Bradesco by 7.2% in the first quarter. BlackRock Inc. now owns 31,792,247 shares of the bank’s stock worth $377,692,000 after acquiring an additional 2,147,292 shares during the period. Finally, Banco BTG Pactual S.A. grew its stake in shares of Banco Bradesco by 11,545.2% in the first quarter. Banco BTG Pactual S.A. now owns 1,956,400 shares of the bank’s stock worth $23,242,000 after acquiring an additional 1,939,600 shares during the period. Institutional investors and hedge funds own 2.81% of the company’s stock.

NYSE:BBD opened at $6.55 on Thursday. The stock has a market cap of $45.45 billion, a price-to-earnings ratio of 7.36, a PEG ratio of 0.42 and a beta of 1.81. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.13 and a quick ratio of 1.13. Banco Bradesco has a fifty-two week low of $6.52 and a fifty-two week high of $13.18.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Thursday, April 26th. The bank reported $0.23 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.03. The business had revenue of $9.92 billion during the quarter. Banco Bradesco had a net margin of 10.82% and a return on equity of 16.91%. equities research analysts expect that Banco Bradesco will post 0.81 earnings per share for the current year.

The company also recently disclosed a special dividend, which will be paid on Monday, July 23rd. Shareholders of record on Tuesday, July 3rd will be paid a dividend of $0.038 per share. This is a positive change from Banco Bradesco’s previous special dividend of $0.01. The ex-dividend date of this dividend is Monday, July 2nd. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.62%.

About Banco Bradesco

Banco Bradesco SA provides banking and financial products and services to individuals, companies, and corporations and institutions. The company operates in two segments, Banking; and Insurance, Pension Plans and Capitalization Bond. It accepts demand and time deposits, checking and savings accounts, interbank deposits from financial institutions, and accounts for salary purposes.

Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply