Banco Bradesco (NYSE:BBDO) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Banco Bradesco SA (NYSE:BBDO)’s share price passed below its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $3.22 and traded as low as $2.90. Banco Bradesco shares last traded at $2.9110, with a volume of 65,552 shares trading hands.

Analyst Ratings Changes

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

Banco Bradesco Price Performance

The firm has a market cap of $30.85 billion, a price-to-earnings ratio of 7.46 and a beta of 0.55. The company’s fifty day moving average is $3.22 and its 200 day moving average is $3.25. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17.

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

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 6th will be issued a $0.0034 dividend. The ex-dividend date is Monday, July 6th. This represents a c) annualized dividend and a dividend yield of 1.4%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Institutional Trading of Banco Bradesco

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. SmartHarvest Portfolios LLC raised its holdings in Banco Bradesco by 21.2% during the first quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock worth $54,000 after acquiring an additional 2,863 shares in the last quarter. Intergy Private Wealth LLC boosted its position in Banco Bradesco by 31.4% during the first quarter. Intergy Private Wealth LLC now owns 13,920 shares of the bank’s stock valued at $46,000 after purchasing an additional 3,323 shares during the last quarter. Cetera Investment Advisers bought a new position in Banco Bradesco in the fourth quarter valued at approximately $32,000. Renaissance Technologies LLC bought a new position in Banco Bradesco in the fourth quarter valued at approximately $34,000. Finally, Compound Planning Inc. acquired a new position in shares of Banco Bradesco during the 3rd quarter worth approximately $35,000.

Banco Bradesco Company Profile

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.