Banco Bradesco (NYSE:BBDO) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Shares of Banco Bradesco SA (NYSE:BBDO) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as low as $2.82. Banco Bradesco shares last traded at $2.8350, with a volume of 56,886 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy”.

Banco Bradesco Price Performance

The firm’s fifty day simple moving average is $3.30 and its 200 day simple moving average is $3.26. The firm has a market cap of $32.06 billion, a P/E ratio of 7.76 and a beta of 0.55. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16.

Banco Bradesco (NYSE:BBDO) last released its quarterly earnings data on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%. The business had revenue of $13.07 billion during the quarter.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.0035 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 1.4%. Banco Bradesco’s payout ratio is currently 7.69%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Intergy Private Wealth LLC bought a new position in shares of Banco Bradesco during the 4th quarter valued at about $30,000. Cetera Investment Advisers bought a new position in shares of Banco Bradesco in the 4th quarter valued at about $32,000. Renaissance Technologies LLC bought a new position in shares of Banco Bradesco in the 4th quarter valued at about $34,000. Compound Planning Inc. bought a new position in shares of Banco Bradesco in the 3rd quarter valued at about $35,000. Finally, Tocqueville Asset Management L.P. bought a new position in shares of Banco Bradesco in the 4th quarter valued at about $37,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.