Banco Bradesco (NYSE:BBDO) Releases Earnings Results

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

Banco Bradesco Trading Down 3.7%

NYSE BBDO traded down $0.14 on Thursday, reaching $3.62. The company had a trading volume of 49,985 shares, compared to its average volume of 78,177. Banco Bradesco has a 52 week low of $2.82 and a 52 week high of $4.16. The stock’s 50 day moving average is $3.28 and its 200-day moving average is $3.23. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The stock has a market cap of $38.36 billion, a price-to-earnings ratio of 8.62 and a beta of 0.48.

Banco Bradesco Increases Dividend

The business 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 $0.0035 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 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 42.86%.

Wall Street Analysts Forecast Growth

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