Banco Bradesco (NYSE:BBDO) Issues Quarterly Earnings Results

Banco Bradesco (NYSE:BBDO) released its earnings results on Friday. The bank reported $0.11 earnings per share for the quarter, Zacks reports. The company had revenue of $12.03 billion during the quarter. Banco Bradesco had a net margin of 9.27% and a return on equity of 12.95%.

Banco Bradesco Price Performance

Shares of NYSE BBDO opened at $3.51 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. Banco Bradesco has a 1-year low of $1.80 and a 1-year high of $3.71. The business’s fifty day moving average price is $3.13 and its two-hundred day moving average price is $2.91.

Banco Bradesco Increases Dividend

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

Institutional Trading of Banco Bradesco

Several hedge funds have recently bought and sold shares of BBDO. Franklin Resources Inc. boosted its position in shares of Banco Bradesco by 659,843.0% during the third quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock worth $138,816,000 after buying an additional 47,370,132 shares during the period. Goldman Sachs Group Inc. boosted its position in Banco Bradesco by 54.2% during the 1st 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 during the period. Citadel Advisors LLC grew its stake in shares of Banco Bradesco by 25.7% in the third 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. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Banco Bradesco during the third quarter valued at about $72,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company presently has an average rating of “Buy”.

About Banco Bradesco

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.