Banco Bradesco (NYSE:BBDO) Stock Passes Above 50-Day Moving Average – What’s Next?

Banco Bradesco SA (NYSE:BBDO) passed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.08 and traded as high as $3.21. Banco Bradesco shares last traded at $3.19, with a volume of 42,567 shares changing hands.

Wall Street Analyst Weigh In

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

Banco Bradesco Trading Up 3.0%

The firm’s fifty day simple moving average is $3.08 and its 200 day simple moving average is $3.29. The stock has a market capitalization of $33.06 billion, a P/E ratio of 7.43 and a beta of 0.55. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Investors of record on Thursday, September 3rd will be paid a $0.0034 dividend. This represents a c) dividend on an annualized basis and a yield of 1.3%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, September 3rd. Banco Bradesco’s payout ratio is 4.76%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Franklin Resources Inc. boosted its holdings in shares of Banco Bradesco by 659,843.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after purchasing an additional 47,370,132 shares in the last quarter. O Shaughnessy Asset Management LLC raised its holdings in shares of Banco Bradesco by 79.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock worth $8,803,000 after buying an additional 1,360,089 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after buying an additional 181,299 shares during the last quarter. Kathmere Capital Management LLC boosted its stake 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 buying an additional 65,621 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its stake in Banco Bradesco by 202.8% in the first 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 in the last quarter.

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.