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

Banco Bradesco (NYSE:BBD) released its quarterly earnings results 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 company 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 Price Performance

BBD opened at $2.72 on Friday. The company has a debt-to-equity ratio of 0.84, a quick ratio of 0.97 and a current ratio of 0.97. The company’s 50 day moving average is $2.79 and its 200-day moving average is $3.03. Banco Bradesco has a 1-year low of $2.60 and a 1-year high of $3.68.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be issued a $0.0036 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.59%.

Institutional Trading of Banco Bradesco

Hedge funds and other institutional investors have recently modified their holdings of the stock. Savvy Advisors Inc. acquired a new position in shares of Banco Bradesco in the fourth quarter valued at approximately $35,000. LGT Group Foundation bought a new stake in Banco Bradesco during the 3rd quarter worth approximately $30,000. HTLF Bank acquired a new position in Banco Bradesco in the 4th quarter valued at approximately $42,000. Aigen Investment Management LP bought a new position in shares of Banco Bradesco during the fourth quarter valued at $43,000. Finally, TIAA Trust National Association acquired a new position in shares of Banco Bradesco during the third quarter worth $35,000.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on BBD. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Monday, January 8th. The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target for the company in a report on Tuesday, February 20th. Finally, Jefferies Financial Group cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th.

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.