Banco Bradesco (NYSE:BBDO) Announces Quarterly Earnings Results

Banco Bradesco (NYSE:BBDO) issued its earnings results on Thursday. The bank reported $0.12 EPS for the quarter, Zacks reports. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.20%. The firm had revenue of $7.75 billion during the quarter.

Banco Bradesco Trading Down 3.7%

BBDO stock opened at $3.62 on Friday. Banco Bradesco has a 1-year low of $2.82 and a 1-year high of $4.16. The firm has a market cap of $38.36 billion, a P/E ratio of 8.36 and a beta of 0.48. The business’s 50 day moving average is $3.29 and its 200-day moving average is $3.24. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Shareholders of record on Thursday, November 5th will be issued a dividend of $0.0035 per share. The ex-dividend date of this dividend is Thursday, November 5th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.0034. This represents a $0.04 dividend on an annualized basis and a yield of 1.1%. Banco Bradesco’s dividend payout ratio (DPR) is presently 42.86%.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, October 8th. One equities research analyst has rated the stock with a Buy rating. Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

About Banco Bradesco

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.