Banco Bradesco (NYSE:BBD) Releases Earnings Results

Banco Bradesco (NYSE:BBD) announced its quarterly earnings data on Friday. The bank reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01), FiscalAI reports. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. The firm had revenue of $6.32 billion for the quarter, compared to analyst estimates of $7.52 billion.

Banco Bradesco Price Performance

Shares of NYSE BBD traded down $0.03 during trading on Friday, reaching $3.92. The company had a trading volume of 11,326,270 shares, compared to its average volume of 36,126,211. Banco Bradesco has a 52 week low of $2.98 and a 52 week high of $4.58. The stock has a market cap of $41.59 billion, a PE ratio of 9.35, a PEG ratio of 0.71 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The business’s 50 day moving average price is $3.60 and its 200-day moving average price is $3.60.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be paid a $0.0038 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0037. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is 47.62%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on BBD shares. The Goldman Sachs Group reiterated a “neutral” rating and issued a $4.20 price target on shares of Banco Bradesco in a research report on Friday, October 9th. HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price on the stock. in a research note on Thursday, October 8th. Bradesco Corretora raised shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. Wall Street Zen upgraded shares of Banco Bradesco to a “hold” rating in a research report on Saturday, October 17th. Finally, Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday, October 8th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $4.05.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.