Banco Bradesco (NYSE:BBD) Issues Earnings Results, Meets Estimates

Banco Bradesco (NYSE:BBD) announced its earnings results on Friday. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09, Zacks reports. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%.

Banco Bradesco Stock Performance

Shares of BBD stock traded down $0.14 on Friday, reaching $2.10. The stock had a trading volume of 68,378,967 shares, compared to its average volume of 52,098,250. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The firm’s 50-day moving average is $1.99 and its two-hundred day moving average is $2.38. The firm has a market capitalization of $22.30 billion, a price-to-earnings ratio of 8.06, a P/E/G ratio of 0.26 and a beta of 0.94. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $2.98.

Banco Bradesco Cuts Dividend

The company also recently announced a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be issued a $0.0031 dividend. The ex-dividend date is Wednesday, February 5th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.78%. Banco Bradesco’s payout ratio is 11.54%.

Analyst Ratings Changes

BBD has been the subject of a number of recent research reports. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research note on Monday, January 13th. The Goldman Sachs Group reduced their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note 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.