Banco Bradesco (NYSE:BBD) Stock Price Passes Above 200-Day Moving Average - Should You Sell?

Key Points

• Banco Bradesco’s stock moved above its 200-day moving average during Thursday’s trading, signaling a technical improvement. Shares traded as high as $3.79 and last changed hands at $3.7150.
• Analyst sentiment remains positive, with Itau BBA Securities reaffirming an outperform rating and Weiss Ratings upgrading the stock to buy. MarketBeat data shows a consensus rating of Buy.
• The bank reported solid fundamentals and a higher dividend, including Q1 EPS of $0.09, revenue of $1.50 billion, and a newly declared monthly dividend of $0.0037 per share, yielding about 1.2% annually.

Banco Bradesco SA (NYSE:BBD - Get Free Report)'s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $3.69 and traded as high as $3.79. Banco Bradesco shares last traded at $3.7150, with a volume of 46,118,465 shares.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BBD. Itau BBA Securities reissued an "outperform" rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings raised Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 13th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has a consensus rating of "Buy".

Banco Bradesco Stock Down 3.8%

The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $39.37 billion, a PE ratio of 9.53, a P/E/G ratio of 0.49 and a beta of 0.56. The stock has a 50-day moving average of $3.82 and a 200 day moving average of $3.69.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The company had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.43% and a net margin of 9.24%. Sell-side analysts anticipate that Banco Bradesco SA will post 0.48 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 8th. Investors of record on Wednesday, May 6th will be given a dividend of $0.0037 per share. The ex-dividend date of this dividend is Wednesday, May 6th. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco's dividend payout ratio (DPR) is 7.69%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of BBD. Millennium Management LLC grew its holdings in Banco Bradesco by 28.4% during the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the period. Jones Financial Companies Lllp grew its holdings in Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock valued at $86,000 after purchasing an additional 37,610 shares during the period. Goldman Sachs Group Inc. grew its holdings in Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the period. Sivia Capital Partners LLC bought a new position in Banco Bradesco during the second quarter valued at $62,000. Finally, JPMorgan Chase & Co. grew its holdings in Banco Bradesco by 22.0% during the second quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank's stock valued at $2,982,000 after purchasing an additional 174,126 shares during the period.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.