Banco Bradesco (NYSE:BBD) Releases Quarterly Earnings Results

Banco Bradesco (NYSE:BBD - Get Free Report) issued its quarterly earnings data on Friday. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09, Zacks reports. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%.

Banco Bradesco Price Performance

NYSE:BBD traded down $0.02 during midday trading on Monday, hitting $2.11. 40,825,385 shares of the stock were exchanged, compared to its average volume of 52,356,531. The business has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $2.38. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $22.40 billion, a price-to-earnings ratio of 8.10, a P/E/G ratio of 0.28 and a beta of 0.94. Banco Bradesco has a one year low of $1.84 and a one year high of $2.98.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Friday, April 11th. Shareholders of record on Friday, March 7th will be paid a dividend of $0.0033 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 annualized dividend and a yield of 1.87%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. Banco Bradesco's payout ratio is presently 11.54%.

Analyst Upgrades and Downgrades

BBD has been the topic of a number of research reports. HSBC upgraded Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target on the stock in a research note on Monday, January 13th. The Goldman Sachs Group cut 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 report on Friday, January 10th. Finally, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a report 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.