Banco Bradesco (NYSE:BBDO) Stock Price Passes Below Fifty Day Moving Average – Time to Sell?

Shares of Banco Bradesco SA (NYSE:BBDO) crossed below its 50 day moving average during trading on Tuesday . The stock has a 50 day moving average of $3.00 and traded as low as $2.94. Banco Bradesco shares last traded at $2.95, with a volume of 63,171 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of “Buy”.

Banco Bradesco Trading Down 3.0%

The firm’s 50-day simple moving average is $3.00 and its 200 day simple moving average is $2.77. The stock has a market cap of $31.39 billion, a P/E ratio of 8.43 and a beta of 0.62. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, January 9th. Investors of record on Wednesday, December 3rd will be issued a $0.0032 dividend. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, December 3rd. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s dividend payout ratio is currently 5.71%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Franklin Resources Inc. increased its holdings in shares of Banco Bradesco by 659,843.0% during the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after purchasing an additional 47,370,132 shares during the period. Goldman Sachs Group Inc. lifted its holdings in Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after purchasing an additional 181,299 shares during the period. Caprock Group LLC bought a new position in Banco Bradesco in the 3rd quarter valued at about $410,000. Kathmere Capital Management LLC increased its stake in Banco Bradesco by 121.7% during the 2nd quarter. Kathmere Capital Management LLC now owns 104,656 shares of the bank’s stock valued at $286,000 after buying an additional 57,451 shares during the period. Finally, D Orazio & Associates Inc. raised its position in shares of Banco Bradesco by 37.3% during the 3rd quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock worth $268,000 after buying an additional 24,822 shares in the last quarter.

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.