Banco Bradesco (NYSE:BBD) Posts Earnings Results, Hits Expectations

Banco Bradesco (NYSE:BBD) announced its earnings results on Wednesday. The bank reported $0.12 earnings per share for the quarter, hitting the consensus estimate of $0.12, Zacks reports. Banco Bradesco had a return on equity of 14.43% and a net margin of 9.24%.The firm had revenue of $13.07 billion for the quarter, compared to the consensus estimate of $7.06 billion.

Banco Bradesco Stock Performance

Banco Bradesco stock traded up $0.01 during midday trading on Friday, hitting $3.75. 24,777,277 shares of the company were exchanged, compared to its average volume of 32,710,134. Banco Bradesco has a fifty-two week low of $2.63 and a fifty-two week high of $4.30. The firm has a market capitalization of $39.69 billion, a PE ratio of 9.60, a price-to-earnings-growth ratio of 0.48 and a beta of 0.56. The business has a fifty day simple moving average of $3.82 and a two-hundred day simple moving average of $3.69. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14.

Banco Bradesco Increases Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 8th. Stockholders of record on Wednesday, May 6th will be paid a $0.0037 dividend. The ex-dividend date is Wednesday, May 6th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio (DPR) is currently 7.69%.

Analyst Ratings Changes

Several brokerages have weighed in on BBD. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of “Buy”.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. Compound Planning Inc. boosted its holdings in Banco Bradesco by 7.7% in the 4th quarter. Compound Planning Inc. now owns 155,433 shares of the bank’s stock worth $518,000 after buying an additional 11,175 shares during the last quarter. Invesco Ltd. lifted its position in shares of Banco Bradesco by 44.2% in the fourth quarter. Invesco Ltd. now owns 1,045,543 shares of the bank’s stock valued at $3,482,000 after acquiring an additional 320,342 shares in the last quarter. Vident Advisory LLC boosted its stake in shares of Banco Bradesco by 17.5% in the fourth quarter. Vident Advisory LLC now owns 409,223 shares of the bank’s stock worth $1,363,000 after acquiring an additional 60,920 shares during the last quarter. Mackenzie Financial Corp boosted its stake in shares of Banco Bradesco by 120.4% in the fourth quarter. Mackenzie Financial Corp now owns 5,513,237 shares of the bank’s stock worth $18,653,000 after acquiring an additional 3,011,402 shares during the last quarter. Finally, Empowered Funds LLC purchased a new position in Banco Bradesco in the 4th quarter valued at $9,018,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.