Banco Bradesco S.A. (NYSE:BBDO – Get Rating)'s share price gapped down prior to trading on Monday . The stock had previously closed at $2.52, but opened at $2.38. Banco Bradesco shares last traded at $2.38, with a volume of 100 shares trading hands.

Banco Bradesco Price Performance

The stock has a market capitalization of $25.90 billion, a price-to-earnings ratio of 6.01 and a beta of 0.94. The business has a fifty day moving average of $2.57 and a 200-day moving average of $2.82.

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Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 20th. Stockholders of record on Tuesday, January 10th will be paid a dividend of $0.002 per share. This represents a $0.02 annualized dividend and a dividend yield of 0.99%. The ex-dividend date is Monday, January 9th. Banco Bradesco's dividend payout ratio is presently 7.42%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Citadel Advisors LLC increased its position in shares of Banco Bradesco by 43.4% in the third quarter. Citadel Advisors LLC now owns 17,012 shares of the bank's stock worth $51,000 after acquiring an additional 5,151 shares in the last quarter. Envestnet Asset Management Inc. purchased a new position in shares of Banco Bradesco during the third quarter valued at $36,000. Virtu Financial LLC grew its holdings in shares of Banco Bradesco by 63.9% during the third quarter. Virtu Financial LLC now owns 17,092 shares of the bank's stock valued at $51,000 after buying an additional 6,661 shares in the last quarter. SPX Gestao de Recursos Ltda increased its holdings in shares of Banco Bradesco by 61.8% in the 3rd quarter. SPX Gestao de Recursos Ltda now owns 22,904 shares of the bank's stock valued at $69,000 after purchasing an additional 8,751 shares during the period. Finally, Northern Trust Corp increased its stake in Banco Bradesco by 11.8% in the 2nd quarter. Northern Trust Corp now owns 138,498 shares of the bank's stock valued at $378,000 after buying an additional 14,610 shares during the period. Institutional investors and hedge funds own 0.01% of the company's stock.

Banco Bradesco Company Profile

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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 segment, 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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.

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