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

Key Points

• Banco Bradesco shares crossed above their 50-day moving average, reaching $3.21 before closing near $3.1960; the stock’s 50-day average is $3.15.
• Weiss Ratings downgraded the stock from “buy (b-)” to “hold (c+),” while the broader analyst consensus remains Hold.
• The company declared a monthly dividend of $0.0034 per share, implying a 1.3% annualized yield, and several institutional investors recently increased their positions.

Banco Bradesco SA (NYSE:BBDO - Get Free Report)'s share price crossed above its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.15 and traded as high as $3.21. Banco Bradesco shares last traded at $3.1960, with a volume of 88,609 shares traded.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Down 1.4%

The company has a market cap of $33.87 billion, a P/E ratio of 7.61 and a beta of 0.54. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The firm has a fifty day moving average price of $3.15 and a 200 day moving average price of $3.19.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Tuesday, November 10th. Investors of record on Monday, October 5th will be issued a $0.0034 dividend. The ex-dividend date of this dividend is Monday, October 5th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco's dividend payout ratio (DPR) is currently 7.14%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Ameritas Advisory Services LLC acquired a new position in Banco Bradesco during the 2nd quarter worth $33,000. Royal Bank of Canada increased its stake in shares of Banco Bradesco by 307.2% in the 1st 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. Renaissance Technologies LLC raised its position 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 worth $115,000 after acquiring an additional 23,289 shares during the last quarter. Cetera Investment Advisers raised its position in shares of Banco Bradesco by 160.5% during the first quarter. Cetera Investment Advisers now owns 29,490 shares of the bank's stock worth $97,000 after acquiring an additional 18,168 shares during the last quarter. Finally, Kathmere Capital Management LLC lifted its stake in shares of Banco Bradesco by 33.5% during the first quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank's stock valued at $861,000 after acquiring an additional 65,621 shares during the period.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the institution has grown into one of Brazil's major banking groups, serving individuals, businesses, corporate clients and public-sector organizations through a broad network of physical and digital channels.

Bradesco offers a range of financial products and services, including checking and savings accounts, consumer and commercial lending, credit and debit cards, payment solutions, investments, brokerage services, asset management and private banking.

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