Banco Bradesco (NYSE:BBDO) Stock Passes Above 50-Day Moving Average – Time to Sell?

Banco Bradesco SA (NYSE:BBDO) crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $3.06 and traded as high as $3.25. Banco Bradesco shares last traded at $3.24, with a volume of 45,912 shares.

Wall Street Analyst Weigh In

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

Banco Bradesco Price Performance

The firm has a market capitalization of $34.10 billion, a price-to-earnings ratio of 8.25 and a beta of 0.56. The stock’s fifty day moving average price is $3.06 and its two-hundred day moving average price is $3.28. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17.

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

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be given a dividend of $0.0034 per share. This represents a c) annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio is currently 20.51%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Intergy Private Wealth LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter worth about $30,000. Cetera Investment Advisers acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $32,000. Renaissance Technologies LLC purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $34,000. Tocqueville Asset Management L.P. purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $37,000. Finally, SmartHarvest Portfolios LLC purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $39,000.

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.