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

Banco Bradesco S.A. (NYSE:BBDO) crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $1.97 and traded as high as $2.04. Banco Bradesco shares last traded at $2.02, with a volume of 14,996 shares.

Banco Bradesco Price Performance

The stock has a market cap of $21.50 billion, a PE ratio of 6.73 and a beta of 0.71. The stock’s fifty day moving average is $1.97 and its 200-day moving average is $2.00. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 7th. Stockholders of record on Wednesday, April 2nd will be issued a dividend of $0.0361 per share. The ex-dividend date is Wednesday, April 2nd. This represents a $0.43 dividend on an annualized basis and a dividend yield of 21.47%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is currently 6.67%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. O Shaughnessy Asset Management LLC lifted its stake in shares of Banco Bradesco by 402.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank’s stock valued at $74,000 after purchasing an additional 33,126 shares during the last quarter. D Orazio & Associates Inc. acquired a new position in Banco Bradesco in the first quarter valued at about $26,000. Northern Trust Corp lifted its position in Banco Bradesco by 8.9% in the fourth quarter. Northern Trust Corp now owns 117,991 shares of the bank’s stock valued at $211,000 after buying an additional 9,627 shares during the last quarter. Finally, HUB Investment Partners LLC acquired a new stake in shares of Banco Bradesco during the fourth quarter valued at about $25,000.

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.