Banco Bradesco (NYSE:BBDO) Stock Price Crosses Below Two Hundred Day Moving Average – Should You Sell?

Banco Bradesco SA (NYSE:BBDO) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.26 and traded as low as $2.82. Banco Bradesco shares last traded at $2.8350, with a volume of 56,886 shares trading hands.

Analyst Ratings Changes

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 research analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy”.

Banco Bradesco Trading Down 2.6%

The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The firm has a 50-day moving average of $3.31 and a 200 day moving average of $3.26. The company has a market cap of $30.04 billion, a P/E ratio of 7.27 and a beta of 0.55.

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

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be paid a dividend of $0.0035 per share. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) dividend on an annualized basis and a yield of 1.5%. Banco Bradesco’s dividend payout ratio (DPR) is currently 5.13%.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently modified their holdings of the stock. Royal Bank of Canada raised 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 worth $67,000 after purchasing an additional 15,180 shares during the last quarter. Renaissance Technologies LLC increased 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 valued at $115,000 after acquiring an additional 23,289 shares during the last quarter. Cetera Investment Advisers increased 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 valued at $97,000 after acquiring an additional 18,168 shares during the last quarter. Kathmere Capital Management LLC increased its position 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 last quarter. Finally, SmartHarvest Portfolios LLC increased its position in shares of Banco Bradesco by 21.2% during the first quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock valued at $54,000 after acquiring an additional 2,863 shares during the last quarter.

About Banco Bradesco

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.