Banco Bradesco (NYSE:BBDO) Releases Earnings Results

Banco Bradesco (NYSE:BBDO) issued its quarterly earnings results on Thursday. The bank reported $0.12 earnings per share for the quarter, Zacks reports. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.20%.

Banco Bradesco Stock Down 3.7%

Shares of NYSE:BBDO traded down $0.14 during midday trading on Thursday, hitting $3.62. 49,985 shares of the stock were exchanged, compared to its average volume of 78,176. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. Banco Bradesco has a 52-week low of $2.82 and a 52-week high of $4.16. The business’s fifty day simple moving average is $3.28 and its two-hundred day simple moving average is $3.23. The company has a market capitalization of $38.36 billion, a PE ratio of 8.62 and a beta of 0.48.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Investors of record on Thursday, November 5th will be issued a dividend of $0.0035 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company has an average rating of “Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, by Amador Aguiar, Bradesco developed from a regional bank into one of Brazil’s largest private-sector banking groups.

The company provides a broad range of financial products and services to individuals, businesses and institutional customers. Its activities include deposit accounts, consumer and commercial lending, credit and debit cards, payment services, investment banking, asset management, brokerage and wealth management.