Banco Bradesco (NYSE:BBDO) Releases Earnings Results

Banco Bradesco (NYSE:BBDO) announced its quarterly earnings data on Thursday. The bank reported $0.08 earnings per share (EPS) for the quarter, reports. Banco Bradesco had a net margin of 6.38% and a return on equity of 9.06%. The firm had revenue of $9.64 billion during the quarter.

Banco Bradesco Stock Performance

Shares of NYSE BBDO traded up $0.03 during mid-day trading on Friday, reaching $2.43. The company’s stock had a trading volume of 17,415 shares, compared to its average volume of 11,029. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. Banco Bradesco has a 52 week low of $2.30 and a 52 week high of $3.21. The stock has a fifty day moving average of $2.49 and a two-hundred day moving average of $2.70.

Banco Bradesco Cuts Dividend

The firm 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 $0.0033 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 annualized dividend and a dividend yield of 1.62%. Banco Bradesco’s payout ratio is 14.29%.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of the stock. QRG Capital Management Inc. increased its holdings in shares of Banco Bradesco by 41.2% in the fourth quarter. QRG Capital Management Inc. now owns 16,795 shares of the bank’s stock worth $53,000 after purchasing an additional 4,898 shares during the last quarter. Advisors Preferred LLC purchased a new position in Banco Bradesco during the 4th quarter valued at approximately $79,000. Profund Advisors LLC bought a new stake in Banco Bradesco in the 3rd quarter worth approximately $195,000. Schechter Investment Advisors LLC purchased a new stake in shares of Banco Bradesco during the 3rd quarter worth approximately $63,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Banco Bradesco during the 3rd quarter valued at approximately $364,000.

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.