Banco Bradesco (NYSE:BBDO) Stock Passes Above 50 Day Moving Average – Here’s What Happened

Shares of Banco Bradesco S.A. (NYSE:BBDO) crossed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $1.87 and traded as high as $2.00. Banco Bradesco shares last traded at $1.97, with a volume of 14,254 shares changing hands.

Banco Bradesco Price Performance

The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm has a market cap of $20.91 billion, a price-to-earnings ratio of 6.55 and a beta of 1.09. The stock’s fifty day moving average price is $1.87 and its 200-day moving average price is $2.15.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be issued a $0.003 dividend. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.82%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 10.00%.

Institutional Trading of Banco Bradesco

A number of hedge funds have recently made changes to their positions in BBDO. O Shaughnessy Asset Management LLC raised its holdings in shares of Banco Bradesco by 402.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank’s stock worth $74,000 after acquiring an additional 33,126 shares in the last quarter. HUB Investment Partners LLC acquired a new position in Banco Bradesco in the 4th quarter worth about $25,000. Finally, Northern Trust Corp raised its stake in shares of Banco Bradesco by 8.9% during the 4th quarter. Northern Trust Corp now owns 117,991 shares of the bank’s stock worth $211,000 after purchasing an additional 9,627 shares in the last quarter.

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.