Banco Bradesco (NYSE:BBDO) Announces Earnings Results

Banco Bradesco (NYSE:BBDO) issued its quarterly earnings results on Wednesday. The bank reported $0.12 earnings per share (EPS) for the quarter, Zacks reports. Banco Bradesco had a return on equity of 14.43% and a net margin of 8.95%.The company had revenue of $13.07 billion for the quarter.

Banco Bradesco Price Performance

NYSE:BBDO traded up $0.04 during mid-day trading on Friday, hitting $3.37. The company’s stock had a trading volume of 24,626 shares, compared to its average volume of 70,324. The company has a market capitalization of $35.71 billion, a price-to-earnings ratio of 8.64 and a beta of 0.59. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock has a fifty day moving average of $3.41 and a 200-day moving average of $3.25. Banco Bradesco has a fifty-two week low of $2.32 and a fifty-two week high of $3.80.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Monday, June 8th. Stockholders of record on Wednesday, May 6th will be given a dividend of $0.0033 per share. This is an increase 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 dividend yield of 1.2%. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.13%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock worth $1,073,000 after acquiring an additional 181,299 shares during the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Banco Bradesco in the third quarter valued at approximately $72,000. Franklin Resources Inc. increased its holdings in shares of Banco Bradesco by 659,843.0% in the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after purchasing an additional 47,370,132 shares in the last quarter. Citadel Advisors LLC boosted its position 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 buying an additional 13,129 shares during the last quarter. Finally, SmartHarvest Portfolios LLC bought a new stake in shares of Banco Bradesco during the fourth quarter worth $39,000.

Analyst Ratings Changes

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

About Banco Bradesco

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.