Banco Bradesco (NYSE:BBDO) Issues Quarterly Earnings Results

Key Points

• Banco Bradesco reported a quarterly earnings per share (EPS) of $0.10 with a net margin of 9.08% and return on equity of 12.33%.
• The bank's stock price decreased by 0.8% to $2.43, with a market cap of $25.87 billion and a P/E ratio of 7.60.
• Banco Bradesco announced a dividend cut, with a new dividend of $0.0021 per share, translating to a yield of only 1.01%.

Banco Bradesco (NYSE:BBDO - Get Free Report) released its quarterly earnings data on Wednesday. The bank reported $0.10 earnings per share for the quarter, Zacks reports. Banco Bradesco had a net margin of 9.76% and a return on equity of 13.02%.

Banco Bradesco Stock Performance

BBDO stock traded up $0.01 during mid-day trading on Friday, reaching $2.44. 22,847 shares of the stock traded hands, compared to its average volume of 39,193. The firm has a market capitalization of $25.97 billion, a PE ratio of 6.97 and a beta of 0.76. The business has a 50-day moving average of $2.57 and a two-hundred day moving average of $2.23. Banco Bradesco has a 52 week low of $1.71 and a 52 week high of $2.88. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco Cuts Dividend

The company also recently announced a dividend, which will be paid on Thursday, September 11th. Investors of record on Wednesday, August 6th will be issued a $0.0021 dividend. This represents a yield of 101.0%. The ex-dividend date is Tuesday, August 5th. Banco Bradesco's dividend payout ratio (DPR) is 5.71%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Banco Bradesco stock. Goldman Sachs Group Inc. raised its stake in shares of Banco Bradesco SA (NYSE:BBDO - Free Report) by 54.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 516,081 shares of the bank's stock after purchasing an additional 181,299 shares during the quarter. Goldman Sachs Group Inc.'s holdings in Banco Bradesco were worth $1,073,000 as of its most recent filing with the Securities and Exchange Commission.

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.