Banco Bradesco (NYSE:BBD) Stock Price Passes Above 200-Day Moving Average – Here’s Why

Shares of Banco Bradesco SA (NYSE:BBD) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $3.55 and traded as high as $3.67. Banco Bradesco shares last traded at $3.5950, with a volume of 33,820,413 shares traded.

Analyst Ratings Changes

Several research firms recently issued reports on BBD. Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. Itau BBA Securities restated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, Banco Bradesco currently has a consensus rating of “Buy”.

Banco Bradesco Stock Performance

The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The stock has a fifty day moving average of $3.87 and a two-hundred day moving average of $3.55.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $6.54 billion during the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. As a group, equities analysts expect that Banco Bradesco SA will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, April 6th will be issued a $0.0037 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Monday, April 6th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently made changes to their positions in the business. EverSource Wealth Advisors LLC grew its holdings in shares of Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after purchasing an additional 4,353 shares during the last quarter. Brooklyn Investment Group lifted its stake in Banco Bradesco by 1,276.5% in the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after purchasing an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at about $39,000. Ballentine Partners LLC purchased a new stake in Banco Bradesco during the fourth quarter valued at about $41,000. Finally, GAMMA Investing LLC grew its stake in shares of Banco Bradesco by 40.1% during the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after buying an additional 3,619 shares during the last quarter.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.