Banco Bradesco (NYSE:BBDO) Share Price Crosses Above Fifty Day Moving Average – Here’s Why

Shares of Banco Bradesco SA (NYSE:BBDO) crossed above its 50 day moving average during trading on Wednesday. The stock has a 50 day moving average of $3.28 and traded as high as $3.84. Banco Bradesco shares last traded at $3.76, with a volume of 87,982 shares traded.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Banco Bradesco Stock Up 1.5%

The firm has a market cap of $38.84 billion, a price-to-earnings ratio of 8.73 and a beta of 0.48. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a 50-day moving average of $3.31 and a 200-day moving average of $3.24.

Banco Bradesco (NYSE:BBDO) last issued its earnings results on Thursday, October 22nd. The bank reported $0.12 earnings per share for the quarter. The firm had revenue of $7.75 billion for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.20%.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. The ex-dividend date of this dividend is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is presently 42.86%.

Institutional Trading of Banco Bradesco

A number of large investors have recently modified their holdings of the company. Ameritas Advisory Services LLC bought a new stake in Banco Bradesco in the 2nd quarter valued at about $33,000. SmartHarvest Portfolios LLC boosted its stake in Banco Bradesco by 21.2% during the 1st quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock valued at $54,000 after purchasing an additional 2,863 shares during the period. Royal Bank of Canada boosted its stake in Banco Bradesco by 307.2% during the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after purchasing an additional 15,180 shares during the period. Intergy Private Wealth LLC boosted its stake in Banco Bradesco by 44.8% during the 3rd quarter. Intergy Private Wealth LLC now owns 20,370 shares of the bank’s stock valued at $63,000 after purchasing an additional 6,302 shares during the period. Finally, QRG Capital Management Inc. boosted its stake in Banco Bradesco by 49.2% during the 2nd quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock valued at $64,000 after purchasing an additional 7,068 shares during the period.

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, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.