Banco Bradesco (NYSE:BBDO) Sees Unusually-High Trading Volume After Dividend Announcement

Shares of Banco Bradesco SA (NYSE:BBDO) saw unusually-strong trading volume on Wednesday following a dividend announcement from the company. Approximately 87,845 shares were traded during mid-day trading, an increase of 67% from the previous session’s volume of 52,689 shares.The stock last traded at $3.0350 and had previously closed at $3.05.

The newly announced dividend which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 3rd will be issued a $0.0032 dividend. The ex-dividend date is Wednesday, December 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco’s dividend payout ratio is currently 5.71%.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Banco Bradesco Stock Performance

The firm has a market cap of $32.83 billion, a PE ratio of 8.81 and a beta of 0.81. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a 50-day simple moving average of $2.85 and a two-hundred day simple moving average of $2.62.

Institutional Trading of Banco Bradesco

A number of large investors have recently added to or reduced their stakes in the stock. Caprock Group LLC bought a new position in shares of Banco Bradesco in the third quarter worth $410,000. Envestnet Asset Management Inc. purchased a new stake in Banco Bradesco during the 3rd quarter worth about $72,000. D Orazio & Associates Inc. boosted its stake in Banco Bradesco by 432.0% in the 2nd quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank’s stock worth $182,000 after purchasing an additional 54,085 shares during the period. Savant Capital LLC bought a new position in Banco Bradesco in the 2nd quarter worth about $51,000. Finally, Ritholtz Wealth Management purchased a new position in Banco Bradesco during the 2nd quarter valued at about $30,000.

Banco Bradesco Company Profile

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.