Banco Bradesco (NYSE:BBD) Announces Earnings Results

Banco Bradesco (NYSE:BBD) released its quarterly earnings data on Friday. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09, Zacks reports. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%.

Banco Bradesco Price Performance

BBD traded down $0.13 during trading on Friday, hitting $2.11. 61,246,917 shares of the company traded hands, compared to its average volume of 52,011,828. The company has a market cap of $22.40 billion, a PE ratio of 8.10, a P/E/G ratio of 0.26 and a beta of 0.94. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock’s 50-day simple moving average is $1.99 and its two-hundred day simple moving average is $2.38.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 5th will be issued a dividend of $0.0031 per share. The ex-dividend date is Wednesday, February 5th. This represents a $0.04 dividend on an annualized basis and a yield of 1.77%. Banco Bradesco’s dividend payout ratio is presently 11.54%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on BBD shares. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research note on Monday, January 13th. The Goldman Sachs Group dropped their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a report on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

About Banco Bradesco

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.