Banco Bradesco (NYSE:BBDO) Issues Earnings Results

Banco Bradesco (NYSE:BBDO) announced its earnings results on Wednesday. The bank reported $0.12 earnings per share (EPS) for the quarter, Zacks reports. The company had revenue of $13.07 billion during the quarter. Banco Bradesco had a net margin of 9.85% and a return on equity of 13.78%.

Banco Bradesco Trading Down 5.0%

BBDO traded down $0.18 during trading on Thursday, hitting $3.32. The company’s stock had a trading volume of 31,165 shares, compared to its average volume of 70,981. The firm’s 50 day moving average price is $3.42 and its 200-day moving average price is $3.25. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.14 and a quick ratio of 1.14. The stock has a market cap of $35.13 billion, a PE ratio of 8.50 and a beta of 0.59. Banco Bradesco has a twelve month low of $2.32 and a twelve month high of $3.80.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 8th. Shareholders of record on Wednesday, May 6th will be issued a $0.0033 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, May 6th. This represents a c) annualized dividend and a yield of 1.2%. Banco Bradesco’s payout ratio is presently 100.00%.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday, March 27th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has an average rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Envestnet Asset Management Inc. acquired a new position in Banco Bradesco in the 3rd quarter valued at $72,000. Citadel Advisors LLC raised its holdings in Banco Bradesco by 25.7% in the 3rd quarter. Citadel Advisors LLC now owns 64,258 shares of the bank’s stock valued at $188,000 after acquiring an additional 13,129 shares during the last quarter. Franklin Resources Inc. raised its holdings in Banco Bradesco by 659,843.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after acquiring an additional 47,370,132 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in Banco Bradesco by 54.2% in the 1st 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, SmartHarvest Portfolios LLC acquired a new position in Banco Bradesco in the 4th quarter valued at $39,000.

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.