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

Banco Bradesco SA (NYSE:BBDO) shares 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 trading hands.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Price Performance

The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The company has a 50-day moving average of $3.22 and a 200-day moving average of $3.25. The firm has a market capitalization of $30.85 billion, a price-to-earnings ratio of 7.46 and a beta of 0.55.

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

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, August 13th. Stockholders of record on Monday, July 6th will be given a dividend of $0.0034 per share. The ex-dividend date of this dividend is Monday, July 6th. This represents a c) annualized dividend and a dividend yield of 1.4%. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Institutional Investors Weigh In On Banco Bradesco

Institutional investors have recently added to or reduced their stakes in the stock. Franklin Resources Inc. boosted its stake in Banco Bradesco by 659,843.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after purchasing an additional 47,370,132 shares during the period. O Shaughnessy Asset Management LLC raised its stake in shares of Banco Bradesco by 79.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after purchasing an additional 1,360,089 shares during the period. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after purchasing an additional 181,299 shares during the period. Ritholtz Wealth Management lifted its holdings in shares of Banco Bradesco by 202.8% in 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. Finally, Kathmere Capital Management LLC lifted its holdings in shares of Banco Bradesco by 82.8% in the fourth quarter. Kathmere Capital Management LLC now owns 196,166 shares of the bank’s stock valued at $563,000 after purchasing an additional 88,859 shares in the last quarter.

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.