Banco Bradesco (NYSE:BBD) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

Banco Bradesco (NYSE:BBD) announced its quarterly earnings data on Thursday. The bank reported $0.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01, reports. The firm had revenue of $9.64 billion during the quarter. Banco Bradesco had a net margin of 6.38% and a return on equity of 9.06%.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock remained flat at $2.72 during trading hours on Friday. 23,989,788 shares of the stock traded hands, compared to its average volume of 16,488,840. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. The company’s fifty day moving average price is $2.79 and its 200-day moving average price is $3.03. Banco Bradesco has a fifty-two week low of $2.60 and a fifty-two week high of $3.68.

Banco Bradesco Cuts Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be given a dividend of $0.0036 per share. The ex-dividend date is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 1.59%. Banco Bradesco’s dividend payout ratio is presently 14.29%.

Analyst Ratings Changes

BBD has been the topic of several analyst reports. Jefferies Financial Group cut Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. Finally, The Goldman Sachs Group upgraded Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target on the stock in a research note on Tuesday, February 20th.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently made changes to their positions in BBD. First Trust Direct Indexing L.P. grew its position in shares of Banco Bradesco by 8.6% during the fourth quarter. First Trust Direct Indexing L.P. now owns 45,245 shares of the bank’s stock worth $158,000 after acquiring an additional 3,570 shares during the last quarter. Gould Asset Management LLC CA boosted its stake in shares of Banco Bradesco by 7.3% during the fourth quarter. Gould Asset Management LLC CA now owns 53,509 shares of the bank’s stock worth $187,000 after buying an additional 3,640 shares during the period. Blair William & Co. IL grew its holdings in shares of Banco Bradesco by 7.1% during the third quarter. Blair William & Co. IL now owns 57,903 shares of the bank’s stock worth $165,000 after buying an additional 3,835 shares during the last quarter. SVB Wealth LLC increased its position in Banco Bradesco by 11.3% in the 4th quarter. SVB Wealth LLC now owns 38,140 shares of the bank’s stock valued at $133,000 after acquiring an additional 3,868 shares during the period. Finally, Ieq Capital LLC raised its stake in Banco Bradesco by 24.7% during the 4th quarter. Ieq Capital LLC now owns 20,714 shares of the bank’s stock valued at $72,000 after acquiring an additional 4,103 shares during the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.