Banco Bradesco (NYSE:BBD) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Banco Bradesco (NYSE:BBD) issued its quarterly earnings results on Thursday. The bank reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01, reports. The business had revenue of $9.64 billion during the quarter. Banco Bradesco had a return on equity of 9.06% and a net margin of 6.38%.

Banco Bradesco Stock Performance

Banco Bradesco stock remained flat at $2.72 during midday trading on Friday. 23,989,788 shares of the company’s stock were exchanged, compared to its average volume of 16,488,840. Banco Bradesco has a 52-week low of $2.60 and a 52-week high of $3.68. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84. The stock has a fifty day moving average price of $2.79 and a two-hundred day moving average price of $3.03.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Investors of record on Monday, May 6th will be issued a $0.0036 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.59%. Banco Bradesco’s dividend payout ratio (DPR) is presently 14.29%.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the company. Savvy Advisors Inc. bought a new position in Banco Bradesco in the 4th quarter worth approximately $35,000. LGT Group Foundation bought a new position in shares of Banco Bradesco in the third quarter worth $30,000. HTLF Bank acquired a new position in shares of Banco Bradesco during the fourth quarter valued at $42,000. Aigen Investment Management LP bought a new stake in shares of Banco Bradesco during the fourth quarter valued at about $43,000. Finally, TIAA Trust National Association acquired a new stake in Banco Bradesco in the third quarter worth about $35,000.

Wall Street Analyst Weigh In

BBD has been the subject of several research reports. HSBC lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Monday, January 8th. Jefferies Financial Group downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. Finally, The Goldman Sachs Group upgraded Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target on the stock in a research report on Tuesday, February 20th.

Banco Bradesco Company Profile

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.