Banco Bradesco (NYSE:BBDO) Posts Quarterly Earnings Results

Key Points

• Quarterly results: Banco Bradesco reported earnings of $0.12 per share for the quarter, with a net margin of 9.85% and a return on equity of 13.78%.
• Dividend increase: The bank declared a monthly dividend of $0.0033 (ex-dividend May 6, payable June 8), implying about a 1.2% yield and a 100% payout ratio.
• Stock and sentiment: Shares traded at $3.46 (market cap $36.67B, P/E 8.87) and Weiss Ratings reissued a "buy (b-)," giving the stock an average MarketBeat rating of Buy.

Banco Bradesco (NYSE:BBDO - Get Free Report) announced its quarterly earnings results on Wednesday. The bank reported $0.12 earnings per share for the quarter, Zacks reports. Banco Bradesco had a net margin of 9.85% and a return on equity of 13.78%.

Banco Bradesco Stock Performance

Shares of NYSE:BBDO traded down $0.05 on Wednesday, hitting $3.46. The company's stock had a trading volume of 63,938 shares, compared to its average volume of 71,445. The company has a market capitalization of $36.67 billion, a price-to-earnings ratio of 8.87 and a beta of 0.59. The stock's 50-day moving average is $3.42 and its two-hundred day moving average is $3.24. Banco Bradesco has a 12 month low of $2.10 and a 12 month high of $3.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14.

Banco Bradesco Increases Dividend

The firm 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 $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This is a positive change from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. Banco Bradesco's dividend payout ratio (DPR) is currently 100.00%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBDO. Cetera Investment Advisers bought a new position in Banco Bradesco during the 4th quarter valued at $32,000. Tocqueville Asset Management L.P. acquired a new stake in Banco Bradesco in the 4th quarter valued at about $37,000. Renaissance Technologies LLC bought a new position in shares of Banco Bradesco during the 4th quarter valued at about $34,000. SmartHarvest Portfolios LLC acquired a new position in shares of Banco Bradesco in the 4th quarter worth approximately $39,000. Finally, Citadel Advisors LLC raised its holdings in shares of Banco Bradesco by 25.7% in the 3rd quarter. Citadel Advisors LLC now owns 64,258 shares of the bank's stock worth $188,000 after purchasing an additional 13,129 shares in the last quarter.

Wall Street Analyst Weigh In

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

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