Banco Bradesco (NYSE:BBDO) Stock Passes Above Fifty Day Moving Average - What's Next?

Key Points

• Banco Bradesco shares rose 1.3% and moved above their 50-day moving average of $3.08, reaching $3.21 before closing at $3.19. The stock remains below its 200-day moving average of $3.29.
• Analyst sentiment is neutral: Weiss Ratings downgraded the stock from “buy (b-)” to “hold (c+),” while MarketBeat reports an average “Hold” rating.
• The bank declared a monthly dividend of $0.0034 per share, representing a 1.3% annualized yield and a 7.14% payout ratio. Several institutional investors also initiated or increased positions in the company.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) shares crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $3.08 and traded as high as $3.21. Banco Bradesco shares last traded at $3.19, with a volume of 42,567 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, August 3rd. One analyst has rated the stock with a Hold rating, According to MarketBeat, Banco Bradesco has an average rating of "Hold".

Banco Bradesco Stock Up 1.3%

The firm's 50 day moving average is $3.08 and its 200-day moving average is $3.29. The firm has a market cap of $33.80 billion, a PE ratio of 7.60 and a beta of 0.55. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a dividend of $0.0034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco's dividend payout ratio is currently 7.14%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently made changes to their positions in the business. Cetera Investment Advisers acquired a new position in Banco Bradesco in the fourth quarter valued at $32,000. Renaissance Technologies LLC acquired a new stake in Banco Bradesco in the 4th quarter worth about $34,000. Tocqueville Asset Management L.P. acquired a new stake in Banco Bradesco in the 4th quarter worth about $37,000. SmartHarvest Portfolios LLC purchased a new stake in Banco Bradesco in the 4th quarter valued at about $39,000. Finally, SBI Securities Co. Ltd. grew its holdings in Banco Bradesco by 974.0% in the 4th quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank's stock valued at $40,000 after buying an additional 12,604 shares during the period.

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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