Banco Bradesco (NYSE:BBDO) Share Price Crosses Below 50 Day Moving Average – Here’s What Happened

Banco Bradesco SA (NYSE:BBDO)’s share price crossed below its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $3.22 and traded as low as $2.90. Banco Bradesco shares last traded at $2.9110, with a volume of 65,552 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company has an average rating of “Buy”.

Banco Bradesco Price Performance

The company’s 50-day simple moving average is $3.21 and its 200-day simple moving average is $3.25. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $31.74 billion, a price-to-earnings ratio of 7.68 and a beta of 0.55.

Banco Bradesco (NYSE:BBDO) last posted its earnings results on Wednesday, May 6th. The bank reported $0.12 EPS for the quarter. The company had revenue of $13.07 billion for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.

Banco Bradesco Announces Dividend

The company also recently disclosed a dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.0609 per share. The ex-dividend date is Tuesday, July 7th. This represents a yield of 408.0%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently modified their holdings of the company. Royal Bank of Canada grew its stake in shares of Banco Bradesco by 307.2% in the first quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after acquiring an additional 15,180 shares in the last quarter. Renaissance Technologies LLC increased its position in 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 period. Cetera Investment Advisers raised its stake in Banco Bradesco by 160.5% in the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock worth $97,000 after purchasing an additional 18,168 shares in the last quarter. Kathmere Capital Management LLC raised its stake in Banco Bradesco by 33.5% in the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank’s stock worth $861,000 after purchasing an additional 65,621 shares in the last quarter. Finally, SmartHarvest Portfolios LLC boosted its holdings in Banco Bradesco by 21.2% in the 1st quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock valued at $54,000 after purchasing an additional 2,863 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.