Banco Bradesco SA (NYSE:BBDO - Get Free Report) shares crossed above its 50-day moving average during trading on Wednesday. The stock has a 50-day moving average of $3.28 and traded as high as $3.84. Banco Bradesco shares last traded at $3.76, with a volume of 87,982 shares trading hands.
Wall Street Analysts Forecast Growth
Separately, Weiss Ratings upgraded shares of Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Buy".
Get Our Latest Stock Report on Banco Bradesco
Banco Bradesco Price Performance
The firm has a fifty day simple moving average of $3.28 and a 200 day simple moving average of $3.23. The company has a market capitalization of $39.84 billion, a PE ratio of 8.95 and a beta of 0.48. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48.
Banco Bradesco Increases Dividend
The company also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be issued a $0.0035 dividend. The ex-dividend date is Thursday, November 5th. This is an increase from Banco Bradesco's previous monthly dividend of $0.0034. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. Banco Bradesco's dividend payout ratio is presently 42.86%.
Institutional Trading of Banco Bradesco
A number of hedge funds have recently added to or reduced their stakes in the business. Kathmere Capital Management LLC increased its position in Banco Bradesco by 33.5% during the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank's stock valued at $861,000 after purchasing an additional 65,621 shares during the period. Ritholtz Wealth Management boosted its stake in shares of Banco Bradesco by 202.8% during the first quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank's stock valued at $716,000 after purchasing an additional 145,684 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Banco Bradesco by 198.9% during the first quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank's stock valued at $115,000 after purchasing an additional 23,289 shares in the last quarter. Cetera Investment Advisers increased its holdings in Banco Bradesco by 160.5% during the first quarter. Cetera Investment Advisers now owns 29,490 shares of the bank's stock valued at $97,000 after buying an additional 18,168 shares during the period. Finally, Royal Bank of Canada increased its holdings in Banco Bradesco by 307.2% during the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank's stock valued at $67,000 after buying an additional 15,180 shares during the period.
Banco Bradesco Company Profile
(
Get Free Report)
Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil's largest private-sector banking groups.
The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.
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