Banco Bradesco (NYSE:BBDO) Share Price Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• Banco Bradesco shares rose above their 50-day moving average, reaching $3.25 and last trading at $3.24, compared with a 50-day average of $3.06. However, the stock remained below its 200-day moving average of $3.28.
• Analyst sentiment remains favorable, with a consensus “Buy” rating from the one covering analyst, although Weiss Ratings recently downgraded the stock from “buy (b)” to “buy (b-).”
• The bank reported quarterly EPS of $0.12 on $13.07 billion in revenue and announced a monthly dividend of $0.0034 per share, representing an annualized yield of approximately 1.2%.

Banco Bradesco SA (NYSE:BBDO - Get Free Report)'s stock price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $3.06 and traded as high as $3.25. Banco Bradesco shares last traded at $3.24, with a volume of 45,912 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Banco Bradesco from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Banco Bradesco currently has a consensus rating of "Buy".

Banco Bradesco Stock Performance

The stock has a market cap of $34.33 billion, a P/E ratio of 8.31 and a beta of 0.56. The firm's 50-day moving average price is $3.06 and its 200-day moving average price is $3.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16.

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

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be paid a $0.0034 dividend. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco's dividend payout ratio (DPR) is presently 5.13%.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently bought and sold shares of the company. Intergy Private Wealth LLC purchased a new stake in Banco Bradesco in the fourth quarter valued at $30,000. Cetera Investment Advisers acquired a new position in shares of Banco Bradesco in the 4th quarter valued at about $32,000. Renaissance Technologies LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter worth about $34,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Banco Bradesco in the fourth quarter worth about $37,000. Finally, SmartHarvest Portfolios LLC acquired a new stake in Banco Bradesco during the fourth quarter worth about $39,000.

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.

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