Banco Bradesco (NYSE:BBD) Announces Quarterly Earnings Results

Key Points

• Banco Bradesco reported quarterly earnings of $0.12 per share, matching analyst expectations, while revenue came in at $13.07 billion versus forecasts of $7.06 billion.
• The stock was largely unchanged after the report, trading up 0.1% to $3.75, with the company maintaining a solid financial profile including a 14.43% return on equity and a 9.24% net margin.
• The bank also announced a monthly dividend increase to $0.0037 per share, and analyst sentiment remains positive with multiple Buy ratings and an average rating of Buy.

Banco Bradesco (NYSE:BBD - Get Free Report) released its quarterly earnings results on Wednesday. The bank reported $0.12 earnings per share for the quarter, meeting the consensus estimate of $0.12, Zacks reports. The firm had revenue of $13.07 billion for the quarter, compared to analysts' expectations of $7.06 billion. Banco Bradesco had a return on equity of 14.43% and a net margin of 9.24%.

Banco Bradesco Stock Up 0.1%

Shares of Banco Bradesco stock traded up $0.01 during trading on Friday, hitting $3.75. 24,777,277 shares of the stock traded hands, compared to its average volume of 32,710,134. 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's fifty day simple moving average is $3.82 and its 200 day simple moving average is $3.69. The firm has a market cap of $39.69 billion, a P/E ratio of 9.60, a price-to-earnings-growth ratio of 0.48 and a beta of 0.56. Banco Bradesco has a 52-week low of $2.63 and a 52-week high of $4.30.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, June 8th. Stockholders of record on Wednesday, May 6th will be paid a dividend of $0.0037 per share. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, May 6th. Banco Bradesco's payout ratio is 7.69%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBD. Itau BBA Securities reiterated an "outperform" rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings raised shares of Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, April 13th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy".

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC lifted its position in shares of Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock worth $27,000 after purchasing an additional 4,353 shares during the period. Brooklyn Investment Group lifted its position in Banco Bradesco by 1,276.5% during the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank's stock valued at $36,000 after acquiring an additional 9,842 shares during the last quarter. Laurel Oak Wealth Management LLC acquired a new stake in Banco Bradesco in the fourth quarter valued at approximately $43,000. Boothbay Fund Management LLC purchased a new position in Banco Bradesco in the second quarter worth $42,000. Finally, Ausdal Financial Partners Inc. purchased a new position in Banco Bradesco in the third quarter worth $47,000.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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