Banco Bradesco (NYSE:BBD) Announces Quarterly Earnings Results

Key Points

• Banco Bradesco reported quarterly EPS of $0.12, missing the $0.13 consensus estimate by $0.01. The bank posted a 14.61% return on equity and a 10.55% net margin.
• The company increased its monthly dividend to $0.0038 per share, equivalent to approximately $0.05 annually and a 1.1% yield.
• Analyst sentiment remains moderately bullish, with four Buy ratings and two Holds; the average price target is $4.05 versus a recent share price of $3.97.

Banco Bradesco (NYSE:BBD - Get Free Report) issued its quarterly earnings data on Thursday. The bank reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01), Zacks reports. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.

Banco Bradesco Price Performance

Shares of BBD stock traded down $0.08 on Thursday, hitting $3.97. 58,418,516 shares of the company's stock were exchanged, compared to its average volume of 36,258,102. The company has a 50 day moving average of $3.58 and a 200 day moving average of $3.60. The stock has a market cap of $42.11 billion, a P/E ratio of 9.46, a price-to-earnings-growth ratio of 0.72 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. Banco Bradesco has a 12 month low of $2.98 and a 12 month high of $4.58.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be given a dividend of $0.0038 per share. The ex-dividend date is Thursday, November 5th. This represents a $0.05 annualized dividend and a dividend yield of 1.1%. This is an increase from Banco Bradesco's previous monthly dividend of $0.0037. Banco Bradesco's dividend payout ratio is currently 47.62%.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on BBD shares. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $4.20 target price on shares of Banco Bradesco in a report on Friday, October 9th. HSBC cut Banco Bradesco from a "buy" rating to a "hold" rating and set a $3.90 price target for the company. in a research note on Thursday, October 8th. Wall Street Zen raised Banco Bradesco to a "hold" rating in a research report on Saturday, October 17th. Weiss Ratings upgraded Banco Bradesco from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday, October 8th. Finally, Bradesco Corretora upgraded Banco Bradesco from a "neutral" rating to an "overweight" rating in a research note on Tuesday, October 6th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $4.05.

Banco Bradesco Company Profile

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.

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