Banco Bradesco (BBD) Shares Gap Down to $12.40

Shares of Banco Bradesco SA (NYSE:BBD) gapped down before the market opened on Wednesday . The stock had previously closed at $12.77, but opened at $12.40. Banco Bradesco shares last traded at $11.79, with a volume of 15382020 shares traded.

A number of research firms recently commented on BBD. HSBC downgraded shares of Banco Bradesco from a “hold” rating to a “reduce” rating in a report on Tuesday, December 11th. Zacks Investment Research downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Thursday, November 22nd. ValuEngine upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a report on Monday, December 17th. Finally, Morgan Stanley upgraded shares of Banco Bradesco from an “underweight” rating to an “equal weight” rating in a report on Friday, November 9th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $13.00.

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The firm has a market capitalization of $78.92 billion, a P/E ratio of 14.02, a P/E/G ratio of 0.63 and a beta of 1.14.

The firm also recently announced a special dividend, which will be paid on Friday, March 8th. Investors of record on Tuesday, February 5th will be issued a $0.005 dividend. This is an increase from Banco Bradesco’s previous special dividend of $0.00. The ex-dividend date of this dividend is Monday, February 4th. Banco Bradesco’s payout ratio is presently 5.88%.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA raised its holdings in shares of Banco Bradesco by 1.2% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 7,818,094 shares of the bank’s stock worth $77,320,000 after purchasing an additional 90,311 shares in the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Banco Bradesco by 4,131.0% in the 4th quarter. PNC Financial Services Group Inc. now owns 828,550 shares of the bank’s stock worth $8,194,000 after purchasing an additional 808,967 shares in the last quarter. Lindbrook Capital LLC bought a new stake in shares of Banco Bradesco in the 4th quarter worth approximately $44,000. Henry James International Management Inc. raised its holdings in shares of Banco Bradesco by 717.3% in the 4th quarter. Henry James International Management Inc. now owns 119,015 shares of the bank’s stock worth $1,177,000 after purchasing an additional 104,453 shares in the last quarter. Finally, Westpac Banking Corp bought a new stake in shares of Banco Bradesco in the 4th quarter worth approximately $5,210,000. Institutional investors and hedge funds own 3.26% of the company’s stock.

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Banco Bradesco Company Profile (NYSE:BBD)

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

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