Traders Purchase High Volume of Banco Bradesco Put Options (BBD)

Banco Bradesco SA (NYSE:BBD) was the recipient of unusually large options trading on Thursday. Stock traders purchased 6,370 put options on the stock. This represents an increase of 1,025% compared to the typical volume of 566 put options.

Banco Bradesco (NYSE:BBD) opened at $11.00 on Tuesday. Banco Bradesco has a 12 month low of $7.83 and a 12 month high of $11.86. The stock has a market capitalization of $65,260.00, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 0.98 and a beta of 1.72.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Tuesday, October 31st. The bank reported $0.25 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.21 by $0.04. Banco Bradesco had a return on equity of 17.71% and a net margin of 9.17%. equities research analysts expect that Banco Bradesco will post 0.81 EPS for the current fiscal year.

The firm also recently announced a special dividend, which will be paid on Monday, February 12th. Stockholders of record on Thursday, January 4th will be issued a dividend of $0.0057 per share. This represents a dividend yield of 29.41%. The ex-dividend date is Wednesday, January 3rd. Banco Bradesco’s payout ratio is presently 27.17%.

Hedge funds have recently made changes to their positions in the company. Cutler Investment Counsel LLC bought a new stake in shares of Banco Bradesco during the third quarter worth $131,000. Empirical Finance LLC bought a new stake in shares of Banco Bradesco during the third quarter worth $144,000. Fox Run Management L.L.C. bought a new stake in shares of Banco Bradesco during the third quarter worth $183,000. Stifel Financial Corp grew its holdings in shares of Banco Bradesco by 102.6% during the second quarter. Stifel Financial Corp now owns 21,830 shares of the bank’s stock worth $186,000 after purchasing an additional 11,057 shares during the last quarter. Finally, QCM Cayman Ltd. bought a new stake in shares of Banco Bradesco during the second quarter worth $228,000. Institutional investors own 2.70% of the company’s stock.

Several research firms have issued reports on BBD. Zacks Investment Research lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Tuesday, January 9th. ValuEngine lowered Banco Bradesco from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 31st. Two equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $12.20.

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About Banco Bradesco

Banco Bradesco SA is a commercial bank. The Bank offers a range of banking and financial products and services in Brazil and abroad to individuals, large, mid-sized and small companies, and local and international corporations and institutions. Its segments include Financial; Insurance and Capitalization bonds; Pension plans, and Other Activities.

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