Banco Bradesco (NYSE:BBDO) Shares Pass Below 50-Day Moving Average of $2.55

Shares of Banco Bradesco S.A. (NYSE:BBDO) passed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $2.55 and traded as low as $2.38. Banco Bradesco shares last traded at $2.42, with a volume of 16,192 shares trading hands.

Banco Bradesco Trading Up 0.4 %

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The business has a 50 day moving average price of $2.53 and a 200 day moving average price of $2.71.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, June 10th. Shareholders of record on Monday, May 6th will be given a dividend of $0.0033 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.67%. The ex-dividend date of this dividend is Friday, May 3rd. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Banco Bradesco in the first quarter worth about $56,000. Northern Trust Corp raised its stake in shares of Banco Bradesco by 11.8% during the 2nd quarter. Northern Trust Corp now owns 138,498 shares of the bank’s stock worth $378,000 after acquiring an additional 14,610 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Banco Bradesco during the third quarter valued at approximately $36,000. Citadel Advisors LLC boosted its stake in Banco Bradesco by 43.4% in the third quarter. Citadel Advisors LLC now owns 17,012 shares of the bank’s stock valued at $51,000 after acquiring an additional 5,151 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its stake in Banco Bradesco by 1,852.2% in the fourth quarter. JPMorgan Chase & Co. now owns 145,481 shares of the bank’s stock valued at $375,000 after acquiring an additional 138,029 shares in the last quarter.

Banco Bradesco Company Profile

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 segments, 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; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.