Banco Bradesco SA (NYSE:BBDO - Get Free Report) crossed 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 trading hands.
Analysts Set New Price Targets
Separately, Weiss Ratings cut Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the company presently has a consensus rating of "Hold".
Get Our Latest Stock Analysis on Banco Bradesco
Banco Bradesco Trading Down 1.5%
The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $31.42 billion, a PE ratio of 7.06 and a beta of 0.55. The stock's 50-day simple moving average is $3.09 and its 200-day simple moving average is $3.27.
Banco Bradesco Increases Dividend
The business also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be paid a dividend of $0.0034 per share. The ex-dividend date is Thursday, September 3rd. 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 yield of 1.4%. Banco Bradesco's dividend payout ratio (DPR) is presently 7.14%.
Institutional Trading of Banco Bradesco
Several institutional investors have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank's stock worth $1,073,000 after buying an additional 181,299 shares in the last quarter. Envestnet Asset Management Inc. purchased a new stake in Banco Bradesco during the 3rd quarter valued at $72,000. Franklin Resources Inc. boosted its stake in Banco Bradesco by 659,843.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank's stock valued at $138,816,000 after purchasing an additional 47,370,132 shares during the last quarter. Citadel Advisors LLC increased its holdings in shares of Banco Bradesco by 25.7% in the 3rd quarter. Citadel Advisors LLC now owns 64,258 shares of the bank's stock worth $188,000 after purchasing an additional 13,129 shares in the last quarter. Finally, SBI Securities Co. Ltd. increased its holdings in shares of Banco Bradesco by 974.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank's stock worth $40,000 after purchasing an additional 12,604 shares in the last quarter.
About Banco Bradesco
(
Get Free Report)
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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