Banco Bradesco (NYSE:BBD) Issues Quarterly Earnings Results, Hits Expectations

Banco Bradesco (NYSE:BBD) issued 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 return on equity of 10.17% and a net margin of 7.43%.

Banco Bradesco Stock Performance

NYSE BBD opened at $2.11 on Friday. The company has a market cap of $22.40 billion, a P/E ratio of 8.10, a PEG ratio of 0.26 and a beta of 0.94. The company has a fifty day simple moving average of $1.99 and a 200 day simple moving average 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. 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. Investors of record on Wednesday, February 5th will be issued a $0.0031 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Wednesday, February 5th. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Analysts Set New Price Targets

BBD has been the subject of several research analyst reports. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group cut their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday, January 10th.

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.