Banco Bradesco (NYSE:BBDO) Share Price Passes Above 50 Day Moving Average - What's Next?

Key Points

• Banco Bradesco's shares have surpassed their 50-day moving average, trading at $2.84, which is above the average of $2.74.
• The bank's recent earnings report revealed $0.10 earnings per share, with a return on equity of 12.96% and a net margin of 9.76%.
• Banco Bradesco announced a monthly dividend of $0.0032 per share, with the ex-dividend date set for November 5th, yielding approximately 1.3%.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) shares passed above its 50-day moving average during trading on Friday . The stock has a 50-day moving average of $2.74 and traded as high as $2.86. Banco Bradesco shares last traded at $2.84, with a volume of 22,045 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has an average rating of "Hold".

Banco Bradesco Stock Up 3.3%

The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63. The firm has a market cap of $30.22 billion, a PE ratio of 8.11 and a beta of 0.82. The firm has a 50 day moving average price of $2.74 and a 200-day moving average price of $2.52.

Banco Bradesco (NYSE:BBDO - Get Free Report) last issued its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Wednesday, November 5th will be given a dividend of $0.0032 per share. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, November 5th. Banco Bradesco's dividend payout ratio (DPR) is 8.57%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently made changes to their positions in BBDO. Goldman Sachs Group Inc. raised 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 acquiring an additional 181,299 shares in the last quarter. Kathmere Capital Management LLC increased its position in Banco Bradesco by 121.7% during the second quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank's stock worth $286,000 after buying an additional 57,451 shares during the period. D Orazio & Associates Inc. increased its position in Banco Bradesco by 432.0% during the second quarter. D Orazio & Associates Inc. now owns 66,606 shares of the bank's stock worth $182,000 after buying an additional 54,085 shares during the period. Aprio Wealth Management LLC acquired a new position in Banco Bradesco during the first quarter worth approximately $43,000. Finally, Savant Capital LLC acquired a new position in Banco Bradesco during the second quarter worth approximately $51,000.

About Banco Bradesco

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.

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