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

Banco Bradesco (NYSE:BBD) issued its quarterly earnings data on Thursday. The bank reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01), Zacks reports. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%.

Banco Bradesco Trading Down 1.9%

BBD traded down $0.08 during trading on Thursday, reaching $3.97. 58,418,516 shares of the company’s stock were exchanged, compared to its average volume of 36,258,102. Banco Bradesco has a one year low of $2.98 and a one year high of $4.58. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market capitalization of $42.11 billion, a PE ratio of 9.46, a price-to-earnings-growth ratio of 0.72 and a beta of 0.46. The firm has a fifty day moving average price of $3.58 and a two-hundred day moving average price of $3.60.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.0038 per share. This represents a $0.05 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0037. Banco Bradesco’s payout ratio is presently 47.62%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the stock. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $4.20 target price on shares of Banco Bradesco in a research note on Friday, October 9th. Bradesco Corretora raised Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a research report on Tuesday, October 6th. HSBC lowered Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a research report on Thursday, October 8th. Finally, Wall Street Zen raised Banco Bradesco to a “hold” rating in a report on Saturday, October 17th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.05.

Banco Bradesco Company Profile

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.