Banco Bradesco (NYSE:BBDO) Stock Price Passes Above 50 Day Moving Average - Here's Why

Shares of Banco Bradesco S.A. (NYSE:BBDO - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.99 and traded as high as $2.30. Banco Bradesco shares last traded at $2.24, with a volume of 75,198 shares changing hands.

Banco Bradesco Trading Down 2.3 %

The company's 50 day simple moving average is $2.02 and its 200 day simple moving average is $1.99. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm has a market cap of $22.56 billion, a price-to-earnings ratio of 7.07 and a beta of 0.76.

Banco Bradesco Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Monday, June 9th. Stockholders of record on Wednesday, May 7th will be given a dividend of $0.002 per share. This represents a dividend yield of 1.05%. The ex-dividend date of this dividend is Tuesday, May 6th. Banco Bradesco's dividend payout ratio is presently 6.67%.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in BBDO. HUB Investment Partners LLC purchased a new stake in shares of Banco Bradesco during the 4th quarter worth $25,000. O Shaughnessy Asset Management LLC lifted its stake in Banco Bradesco by 402.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank's stock worth $74,000 after purchasing an additional 33,126 shares during the last quarter. Northern Trust Corp boosted its holdings in Banco Bradesco by 8.9% in the fourth quarter. Northern Trust Corp now owns 117,991 shares of the bank's stock valued at $211,000 after purchasing an additional 9,627 shares in the last quarter. D Orazio & Associates Inc. purchased a new position in Banco Bradesco in the first quarter valued at approximately $26,000. Finally, BSW Wealth Partners raised its holdings in Banco Bradesco by 29.7% during the first quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after purchasing an additional 7,027 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.