Banco Bradesco (NYSE:BBD) Releases Quarterly Earnings Results, Misses Expectations By $0.01 EPS

Banco Bradesco (NYSE:BBD) announced its quarterly earnings data on Thursday. The bank reported $0.12 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.01), FiscalAI reports. The firm had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $7.52 billion. Banco Bradesco had a return on equity of 15.51% and a net margin of 12.58%.

Banco Bradesco Stock Up 3.2%

NYSE:BBD traded up $0.12 during trading hours on Friday, reaching $4.08. The company’s stock had a trading volume of 62,301,342 shares, compared to its average volume of 49,686,968. Banco Bradesco has a one year low of $2.98 and a one year high of $4.58. The business’s 50-day moving average is $3.61 and its 200-day moving average is $3.60. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The company has a market cap of $43.18 billion, a price-to-earnings ratio of 8.86, a price-to-earnings-growth ratio of 0.70 and a beta of 0.46.

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 issued a $0.0038 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0037. This represents a $0.05 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s dividend payout ratio is currently 47.62%.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BBD. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price on the stock. in a research report on Thursday, October 8th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. The Goldman Sachs Group reiterated a “neutral” rating and set a $4.20 price target on shares of Banco Bradesco in a report on Friday, October 9th. Weiss Ratings raised 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 report on Tuesday, October 6th. Four research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, Banco Bradesco has an average rating of “Moderate Buy” and a consensus target price of $4.05.

About Banco Bradesco

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.