Banco Bradesco (NYSE:BBDO) Stock Crosses Below Two Hundred Day Moving Average of $2.73

Banco Bradesco S.A. (NYSE:BBDOGet Free Report) passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.73 and traded as low as $2.54. Banco Bradesco shares last traded at $2.56, with a volume of 5,644 shares.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The company has a 50 day simple moving average of $2.69 and a two-hundred day simple moving average of $2.73.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, May 9th. Stockholders of record on Wednesday, April 3rd will be issued a dividend of $0.0035 per share. The ex-dividend date is Tuesday, April 2nd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.64%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Goldman Sachs Group Inc. grew its position in Banco Bradesco by 2,116.1% in the fourth quarter. Goldman Sachs Group Inc. now owns 532,154 shares of the bank’s stock valued at $1,692,000 after acquiring an additional 508,141 shares during the period. JPMorgan Chase & Co. grew its position in Banco Bradesco by 1,852.2% in the fourth quarter. JPMorgan Chase & Co. now owns 145,481 shares of the bank’s stock valued at $375,000 after acquiring an additional 138,029 shares during the period. Mirae Asset Global Investments Co. Ltd. bought a new stake in Banco Bradesco in the third quarter valued at $364,000. Profund Advisors LLC bought a new stake in Banco Bradesco in the third quarter valued at $195,000. Finally, Envestnet Asset Management Inc. grew its position in Banco Bradesco by 324.2% in the fourth quarter. Envestnet Asset Management Inc. now owns 50,585 shares of the bank’s stock valued at $131,000 after acquiring an additional 38,660 shares during the period. 0.01% of the stock is currently owned by institutional investors and hedge funds.

About Banco Bradesco

(Get Free Report)

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.

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