Banco Bradesco (NYSE:BBD) Shares Up 3.2%

Banco Bradesco S.A. (NYSE:BBD)’s stock price rose 3.2% during mid-day trading on Monday . The stock traded as high as $2.30 and last traded at $2.28. Approximately 774,111 shares changed hands during trading, a decline of 96% from the average daily volume of 17,729,154 shares. The stock had previously closed at $2.21.

Banco Bradesco Price Performance

The stock has a market capitalization of $26.86 billion, a P/E ratio of 10.91, a price-to-earnings-growth ratio of 0.24 and a beta of 0.97. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.77 and a current ratio of 0.77. The stock has a 50-day simple moving average of $2.32 and a 200 day simple moving average of $2.63.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, September 12th. Shareholders of record on Monday, August 5th will be issued a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Monday, August 5th. Banco Bradesco’s dividend payout ratio is presently 13.04%.

Institutional Investors Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Banco Santander S.A. increased its stake in shares of Banco Bradesco by 348.4% in the 1st quarter. Banco Santander S.A. now owns 1,692,954 shares of the bank’s stock valued at $4,842,000 after acquiring an additional 1,315,380 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in Banco Bradesco by 26.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 209,030 shares of the bank’s stock worth $732,000 after purchasing an additional 43,837 shares during the period. Ieq Capital LLC raised its holdings in Banco Bradesco by 24.7% in the fourth quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock worth $72,000 after purchasing an additional 4,103 shares during the period. Bleakley Financial Group LLC bought a new position in shares of Banco Bradesco during the fourth quarter worth $161,000. Finally, Royal London Asset Management Ltd. increased its position in shares of Banco Bradesco by 126.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 93,494 shares of the bank’s stock valued at $327,000 after buying an additional 52,211 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.