Banco Bradesco Target of Unusually Large Options Trading (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) was the recipient of unusually large options trading on Friday. Stock traders purchased 47,237 put options on the company. This represents an increase of approximately 3,579% compared to the typical volume of 1,284 put options.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

Banco Bradesco Stock Up 1.3 %

NYSE BBD opened at $2.38 on Friday. The firm’s 50 day moving average is $2.61 and its 200-day moving average is $2.54. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion for the quarter, compared to analyst estimates of $5.62 billion. Equities research analysts predict that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Thursday, January 9th. Investors of record on Wednesday, December 4th will be given a dividend of $0.0033 per share. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a yield of 1.67%. Banco Bradesco’s dividend payout ratio is 11.54%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Inspire Investing LLC bought a new position in shares of Banco Bradesco in the first quarter valued at $29,000. Blue Trust Inc. grew its position in shares of Banco Bradesco by 99.9% in the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after acquiring an additional 5,623 shares during the period. Townsquare Capital LLC acquired a new position in shares of Banco Bradesco during the 3rd quarter worth about $37,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco in the 2nd quarter valued at about $43,000. Finally, Mayport LLC acquired a new stake in Banco Bradesco in the 2nd quarter valued at about $47,000.

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.