Banco Bradesco (NYSE:BBDO) Shares Down 4.9% – Here’s What Happened

Banco Bradesco S.A. (NYSE:BBDO) was down 4.9% during trading on Wednesday . The stock traded as low as $1.85 and last traded at $1.85. Approximately 66,255 shares traded hands during mid-day trading, an increase of 94% from the average daily volume of 34,188 shares. The stock had previously closed at $1.94.

Banco Bradesco Stock Down 1.8 %

The firm’s 50 day simple moving average is $1.88 and its 200 day simple moving average is $2.12. The company has a market cap of $20.27 billion, a price-to-earnings ratio of 6.35 and a beta of 1.04. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be paid a $0.003 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.88%. Banco Bradesco’s dividend payout ratio is presently 6.67%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. O Shaughnessy Asset Management LLC raised its position in shares of Banco Bradesco by 402.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank’s stock worth $74,000 after buying an additional 33,126 shares in the last quarter. HUB Investment Partners LLC acquired a new position in shares of Banco Bradesco during the fourth quarter valued at approximately $25,000. Finally, Northern Trust Corp increased its stake in shares of Banco Bradesco by 8.9% during the fourth quarter. Northern Trust Corp now owns 117,991 shares of the bank’s stock valued at $211,000 after acquiring an additional 9,627 shares during the period.

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.