Banco Bradesco SA (ADR) (NYSE:BBD) erased all gains

Posted by Michael Korte July 11, 2013 0 Comment 2572 views

Banco Bradesco SA (ADR) (NYSE:BBD) was the biggest private bank in Brazil until the merger between Unibanco and Banco Itaú happened in the year 2009. The headquarters of Banco Bradesco SA is located in Osasco. A wide range of financial and banking products and services are being offered by the Bank jointly with its auxiliaries, which include deposits, credit and debit, individual and corporate banking, loans, leasing, international and investment banking, brokerages for security, consortium, portfolio management and various insurances.

Banco Bradesco SA is actively running in Brazil and abroad. The bank’s business divided into six sections including: Companies, Corporate, Private Banking, Retail, Prime and Expresso. The operations of Banco Bradesco SA are being carried out by means of a variety of auxiliary units, the company’s subsidiaries. Some of the significant subsidiaries include Banco Alvorada, Banco Bradesco, Banco Bankpar, Banco Bradescard, Bradesco Saude and Bradesco Administradora de Consorcios.

On Wednesday, the shares of Banco Bradesco SA declined sharply, which reversed almost all of the company’s gains during the week. Before closing the day lower 1.70% at the price of $11.55, the shares of the company found an oscillation between the values of $11.46 and $11.73. A total number of 11.20 million shares were traded and this was above the daily average trading volume of 10.04 million. The shares of the company have gained 0.96% during the past 3 trading sessions. Hence, the company underperformed the S&P 500.

During the last trading session, Banco Bradesco SA (ADR) (NYSE:BBD) shares closed after declining down by 5.77% at $11.44. The stock reached a high of $11.96 after being opened at $11.91. During the previous trading session, more than 30.20 million shares were traded, which is very high when compared to with the average volume of 9.91 million shares during the past 90 trading sessions.

About Michael Korte

Michael Korte an investigative reporter at GDP Insider and is a breaking news reporter. Michael work includes investigations of misconduct by federal prosecutors and industrial air pollution around the nation's schools. His reporting has been recognized with the Hillman Prize for Newspaper Journalism, the Grantham Prize for Excellence in Reporting on the Environment, and the Philip Meyer Journalism Award for reporting that incorporates social science methods.

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