Banco Bradesco (NYSE:BBD) Sets New 12-Month Low Following Weak Earnings

Shares of Banco Bradesco SA (NYSE:BBD – Get Free Report) hit a new 52-week low during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $2.89 and last traded at $3.0140, with a volume of 5,843,049 shares trading hands. The stock had previously closed at $4.07.

The bank reported $0.12 earnings per share for the quarter, missing analysts’ consensus estimates of $0.13 by ($0.01). Banco Bradesco had a net margin of 12.58% and a return on equity of 15.51%. The firm had revenue of $6.32 billion for the quarter, compared to the consensus estimate of $7.52 billion.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Friday, December 11th. Stockholders of record on Thursday, November 5th will be issued a $0.0038 dividend. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, November 5th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.0037. Banco Bradesco’s dividend payout ratio (DPR) is currently 43.48%.

Wall Street Analyst Weigh In

BBD has been the topic of several recent analyst reports. HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 price objective on the stock. in a research report on Thursday, October 8th. Weiss Ratings raised shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. JPMorgan Chase & Co. upgraded Banco Bradesco from a “neutral” rating to an “overweight” rating in a report on Tuesday, October 6th. The Goldman Sachs Group reissued a “neutral” rating and set a $4.20 price objective on shares of Banco Bradesco in a report on Friday, October 9th. Finally, Wall Street Zen upgraded Banco Bradesco to a “hold” rating in a research report on Saturday, October 17th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $4.05.

Read Our Latest Stock Report on BBD

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Inspire Investing LLC boosted its position in Banco Bradesco by 16.9% during the third quarter. Inspire Investing LLC now owns 30,565 shares of the bank’s stock worth $108,000 after purchasing an additional 4,408 shares in the last quarter. Net Worth Advisory Group lifted its stake in shares of Banco Bradesco by 23.5% during the third quarter. Net Worth Advisory Group now owns 91,190 shares of the bank’s stock worth $320,000 after purchasing an additional 17,342 shares in the last quarter. Global Strategic Management Inc. acquired a new position in shares of Banco Bradesco during the third quarter worth $221,000. Euro Pacific Asset Management LLC boosted its position in Banco Bradesco by 3.2% in the 3rd quarter. Euro Pacific Asset Management LLC now owns 1,136,944 shares of the bank’s stock valued at $3,742,000 after buying an additional 35,164 shares during the last quarter. Finally, Plan A Wealth LLC increased its stake in shares of Banco Bradesco by 22.1% in the third quarter. Plan A Wealth LLC now owns 23,327 shares of the bank’s stock worth $82,000 after buying an additional 4,224 shares during the last quarter.

Banco Bradesco Stock Performance

The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. The stock has a market capitalization of $30.60 billion, a P/E ratio of 6.55, a price-to-earnings-growth ratio of 0.72 and a beta of 0.46. The company has a fifty day moving average of $3.61 and a two-hundred day moving average of $3.60.

Banco Bradesco Company Profile

(Get Free Report)

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.

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