Banco Bradesco (NYSE:BBDO) Stock Passes Above 50 Day Moving Average - Should You Sell?

Key Points

• Banco Bradesco's stock has recently surpassed its 50-day moving average, closing at $2.63 with an increase of 1.2% during trading.
• The bank announced a dividend of $0.0021, reflecting a yield of 101.0%, despite having a low payout ratio of 5.71%.
• Recent institutional investments show confidence in Banco Bradesco, with firms like Northern Trust Corp increasing their stakes by 8.9% in the last quarter.

Banco Bradesco SA (NYSE:BBDO - Get Free Report)'s share price passed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.57 and traded as high as $2.65. Banco Bradesco shares last traded at $2.63, with a volume of 202,431 shares changing hands.

Banco Bradesco Stock Up 1.2%

The company has a 50-day moving average price of $2.57 and a 200 day moving average price of $2.30. The firm has a market capitalization of $27.99 billion, a PE ratio of 7.51 and a beta of 0.76. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11.

Banco Bradesco (NYSE:BBDO - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 EPS 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 company also recently announced a dividend, which will be paid on Thursday, September 11th. Investors of record on Wednesday, August 6th will be given a $0.0021 dividend. This represents a dividend yield of 101.0%. The ex-dividend date is Tuesday, August 5th. Banco Bradesco's payout ratio is currently 5.71%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BBDO. Northern Trust Corp raised its position in Banco Bradesco by 8.9% during 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 during the period. D Orazio & Associates Inc. purchased a new stake in shares of Banco Bradesco in the first quarter worth approximately $26,000. BSW Wealth Partners increased its holdings in Banco Bradesco by 29.7% during the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after purchasing an additional 7,027 shares during the period. Kathmere Capital Management LLC purchased a new position in Banco Bradesco during the 1st quarter worth $98,000. Finally, Aprio Wealth Management LLC purchased a new position in Banco Bradesco during the 1st quarter worth $43,000.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.