Banco Bradesco (NYSE:BBDO) Issues Earnings Results

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

Banco Bradesco Price Performance

Shares of BBDO traded down $0.03 on Friday, reaching $3.48. 33,760 shares of the company’s stock were exchanged, compared to its average volume of 59,095. Banco Bradesco has a 12 month low of $1.80 and a 12 month high of $3.71. The business has a 50 day moving average price of $3.12 and a two-hundred day moving average price of $2.91. The company has a current ratio of 1.12, a quick ratio of 1.12 and a debt-to-equity ratio of 0.64.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be given a $0.0033 dividend. The ex-dividend date is Wednesday, March 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.1%. Banco Bradesco’s dividend payout ratio is 5.71%.

Institutional Trading of Banco Bradesco

A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. raised 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 worth $1,073,000 after acquiring an additional 181,299 shares in the last quarter. Envestnet Asset Management Inc. acquired a new stake in shares of Banco Bradesco during the 3rd quarter worth approximately $72,000. Franklin Resources Inc. boosted its stake in 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 buying an additional 47,370,132 shares in the last quarter. Finally, Citadel Advisors LLC boosted its position 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 in the last quarter.

Analysts Set New Price Targets

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