Banco Bradesco (NYSE:BBDO) Share Price Passes Above Fifty Day Moving Average – Should You Sell?

Banco Bradesco SA (NYSE:BBDO) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $3.09 and traded as high as $3.10. Banco Bradesco shares last traded at $2.9650, with a volume of 49,281 shares changing hands.

Analysts Set New Price Targets

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 investment analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has a consensus rating of “Hold”.

Banco Bradesco Price Performance

The stock has a market cap of $33.06 billion, a price-to-earnings ratio of 7.43 and a beta of 0.55. 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 company’s fifty day moving average is $3.09 and its two-hundred day moving average is $3.26.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be paid a $0.0034 dividend. The ex-dividend date of this dividend is Thursday, September 3rd. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco’s payout ratio is presently 7.14%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently bought and sold shares of BBDO. Cetera Investment Advisers purchased a new position in Banco Bradesco during the 4th quarter valued at about $32,000. Renaissance Technologies LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter worth about $34,000. Tocqueville Asset Management L.P. acquired a new stake in shares of Banco Bradesco during the fourth quarter worth about $37,000. SmartHarvest Portfolios LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter worth about $39,000. Finally, SBI Securities Co. Ltd. boosted its stake in shares of Banco Bradesco by 974.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank’s stock valued at $40,000 after purchasing an additional 12,604 shares during the period.

About Banco Bradesco

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.