Banco Bradesco (NYSE:BBD) Shares Pass Above 200 Day Moving Average – What’s Next?

Shares of Banco Bradesco SA (NYSE:BBD) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $3.17 and traded as high as $3.31. Banco Bradesco shares last traded at $3.3050, with a volume of 37,172,519 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday. Four investment analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, Banco Bradesco has a consensus rating of “Moderate Buy” and an average target price of $2.40.

Banco Bradesco Price Performance

The company has a 50-day moving average of $3.45 and a 200-day moving average of $3.17. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12. The firm has a market capitalization of $35.17 billion, a price-to-earnings ratio of 9.44, a price-to-earnings-growth ratio of 0.37 and a beta of 0.57.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Wednesday, October 29th. The bank reported $0.09 earnings per share for the quarter, missing analysts’ consensus estimates of $0.11 by ($0.02). Banco Bradesco had a net margin of 9.61% and a return on equity of 12.95%. The company had revenue of $11.14 billion during the quarter, compared to the consensus estimate of $34.75 billion. As a group, research analysts anticipate that Banco Bradesco SA will post 0.37 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, January 9th. Shareholders of record on Wednesday, December 3rd will be issued a dividend of $0.0035 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date 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 8.57%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Orbis Allan Gray Ltd acquired a new position in shares of Banco Bradesco during the 2nd quarter worth about $250,398,000. Goldman Sachs Group Inc. increased its position in shares of Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after acquiring an additional 17,853,712 shares during the last quarter. Marshall Wace LLP raised its holdings in Banco Bradesco by 103.9% during the third quarter. Marshall Wace LLP now owns 32,045,389 shares of the bank’s stock worth $108,313,000 after acquiring an additional 16,331,155 shares in the last quarter. Fisher Asset Management LLC boosted its position in Banco Bradesco by 18.4% during the second quarter. Fisher Asset Management LLC now owns 88,098,675 shares of the bank’s stock valued at $272,225,000 after purchasing an additional 13,682,255 shares during the last quarter. Finally, Acadian Asset Management LLC acquired a new position in Banco Bradesco during the second quarter valued at approximately $41,113,000.

About Banco Bradesco

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.