Banco Bradesco (NYSE:BBDO) Stock Price Crosses Below 50 Day Moving Average of $2.55

Banco Bradesco S.A. (NYSE:BBDO) crossed below its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $2.55 and traded as low as $2.38. Banco Bradesco shares last traded at $2.42, with a volume of 16,192 shares changing hands.

Banco Bradesco Trading Down 1.6 %

The firm has a fifty day simple moving average of $2.55 and a two-hundred day simple moving average of $2.71. The firm has a market capitalization of $25.79 billion, a P/E ratio of 11.52 and a beta of 1.10. The company has a debt-to-equity ratio of 0.84, a current ratio of 0.97 and a quick ratio of 0.97.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 9th. Shareholders of record on Wednesday, April 3rd will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend is Tuesday, April 2nd. Banco Bradesco’s dividend payout ratio (DPR) is 14.29%.

Hedge Funds Weigh In On Banco Bradesco

Several institutional investors and hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. grew its holdings in Banco Bradesco by 2,116.1% during the fourth quarter. Goldman Sachs Group Inc. now owns 532,154 shares of the bank’s stock valued at $1,692,000 after purchasing an additional 508,141 shares during the period. Citadel Advisors LLC boosted its holdings in shares of Banco Bradesco by 164.9% in the fourth quarter. Citadel Advisors LLC now owns 36,081 shares of the bank’s stock worth $115,000 after acquiring an additional 22,458 shares during the period. QRG Capital Management Inc. boosted its holdings in shares of Banco Bradesco by 41.2% in the fourth quarter. QRG Capital Management Inc. now owns 16,795 shares of the bank’s stock worth $53,000 after acquiring an additional 4,898 shares during the period. Advisors Preferred LLC bought a new position in shares of Banco Bradesco in the fourth quarter worth $79,000. Finally, Profund Advisors LLC bought a new position in shares of Banco Bradesco in the third quarter worth $195,000.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.