Banco Bradesco (NYSE:BBDO) Announces Earnings Results

Banco Bradesco (NYSE:BBDO) issued its earnings results on Friday. The bank reported $0.11 EPS for the quarter, Zacks reports. Banco Bradesco had a return on equity of 12.95% and a net margin of 9.27%.The firm had revenue of $12.03 billion during the quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $3.51 on Friday. Banco Bradesco has a twelve month low of $1.80 and a twelve month high of $3.71. The company’s fifty day moving average is $3.13 and its 200 day moving average is $2.92. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, April 8th. Stockholders of record on Wednesday, March 4th will be issued a dividend of $0.0033 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.1%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, March 4th. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.71%.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new stake in shares of Banco Bradesco in the 3rd quarter valued at $72,000. Citadel Advisors LLC lifted its holdings in Banco Bradesco by 25.7% in the third quarter. Citadel Advisors LLC now owns 64,258 shares of the bank’s stock valued at $188,000 after buying an additional 13,129 shares during the period. Goldman Sachs Group Inc. boosted its position in Banco Bradesco by 54.2% during the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after acquiring an additional 181,299 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in Banco Bradesco by 659,843.0% during the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after acquiring an additional 47,370,132 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock currently has an average rating of “Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.