Banco Bradesco (NYSE:BBDO) Stock Crosses Above 50 Day Moving Average – Here’s Why

Shares of Banco Bradesco SA (NYSE:BBDO) crossed above its 50 day moving average during trading on Tuesday. The stock has a 50 day moving average of $3.15 and traded as high as $3.21. Banco Bradesco shares last traded at $3.1960, with a volume of 88,609 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, August 3rd. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the company has a consensus rating of “Hold”.

Banco Bradesco Stock Down 1.2%

The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market capitalization of $32.58 billion, a price-to-earnings ratio of 7.32 and a beta of 0.54. The firm has a 50-day moving average price of $3.15 and a two-hundred day moving average price of $3.19.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Stockholders of record on Monday, October 5th will be paid a dividend of $0.0034 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.3%. This is a decrease from Banco Bradesco’s previous monthly dividend of $0.0518. Banco Bradesco’s dividend payout ratio (DPR) is 4.76%.

Institutional Trading of Banco Bradesco

A number of institutional investors have recently made changes to their positions in BBDO. O Shaughnessy Asset Management LLC boosted its holdings in Banco Bradesco by 79.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock worth $8,803,000 after purchasing an additional 1,360,089 shares during the last quarter. Kathmere Capital Management LLC grew its position in Banco Bradesco by 33.5% in the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock valued at $861,000 after purchasing an additional 65,621 shares in the last quarter. Ritholtz Wealth Management increased its stake in Banco Bradesco by 202.8% in the 1st quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank’s stock valued at $716,000 after buying an additional 145,684 shares during the last quarter. Renaissance Technologies LLC increased its stake in Banco Bradesco by 198.9% in the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after buying an additional 23,289 shares during the last quarter. Finally, Cetera Investment Advisers lifted its position in Banco Bradesco by 160.5% during the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock worth $97,000 after buying an additional 18,168 shares in the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the institution has grown into one of Brazil’s major banking groups, serving individuals, businesses, corporate clients and public-sector organizations through a broad network of physical and digital channels.

Bradesco offers a range of financial products and services, including checking and savings accounts, consumer and commercial lending, credit and debit cards, payment solutions, investments, brokerage services, asset management and private banking.