Banco Bradesco SA (NYSE:BBD – Get Free Report)’s stock price crossed below its 200-day moving average during trading on Monday following a weaker than expected earnings announcement. The stock has a 200-day moving average of $3.67 and traded as low as $2.74. Banco Bradesco shares last traded at $2.9250, with a volume of 204,163,320 shares trading hands.
The bank reported $0.12 EPS for the quarter, missing the consensus estimate of $0.13 by ($0.01). Banco Bradesco had a net margin of 12.58% and a return on equity of 15.51%. The company had revenue of $6.32 billion for the quarter, compared to analyst estimates of $7.52 billion.
Banco Bradesco Increases Dividend
The business 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 annualized dividend and a dividend yield of 1.6%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.0037. The ex-dividend date is Thursday, November 5th. Banco Bradesco’s payout ratio is 43.48%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on BBD shares. Bradesco Corretora upgraded shares of Banco Bradesco from a “neutral” rating to an “overweight” rating in a research note on Tuesday, October 6th. Wall Street Zen upgraded Banco Bradesco to a “hold” rating in a research report on Saturday, October 17th. HSBC downgraded Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price for the company. in a research report on Thursday, October 8th. The Goldman Sachs Group reaffirmed a “neutral” rating and set a $4.20 price target on shares of Banco Bradesco in a research note on Friday, October 9th. Finally, Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, October 8th. Four investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $4.05.
Read Our Latest Research Report on BBD
Institutional Trading of Banco Bradesco
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tidal Investments LLC grew its holdings in shares of Banco Bradesco by 1.9% during the second quarter. Tidal Investments LLC now owns 160,721 shares of the bank’s stock worth $558,000 after purchasing an additional 2,990 shares during the last quarter. Compound Planning Inc. raised its holdings in shares of Banco Bradesco by 2.1% in the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock valued at $579,000 after buying an additional 3,247 shares during the last quarter. Cetera Investment Advisers raised its holdings in shares of Banco Bradesco by 16.7% in the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock valued at $90,000 after buying an additional 3,519 shares during the last quarter. Plan A Wealth LLC raised its holdings 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 valued at $82,000 after buying an additional 4,224 shares during the last quarter. Finally, Inspire Investing LLC lifted its position in Banco Bradesco by 16.9% during the 3rd quarter. Inspire Investing LLC now owns 30,565 shares of the bank’s stock worth $108,000 after buying an additional 4,408 shares in the last quarter.
Banco Bradesco Trading Down 28.1%
The company’s 50-day moving average is $3.61 and its 200-day moving average is $3.67. The firm has a market cap of $31.00 billion, a price-to-earnings ratio of 6.36, a P/E/G ratio of 0.72 and a beta of 0.46. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48.
Banco Bradesco Company Profile
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.
Further Reading
- Five stocks we like better than Banco Bradesco
- Comfort Systems Earnings: AI Slowdown or More Growth Ahead?
- Bristol Myers Squibb’s Cancer Breakthrough Could Have Implications Beyond Its Own Stock
- 5 Beaten-Down Growth Stocks Trading Like Value Plays as Cash Chases Mega-Caps
- Anthropic’s IPO Filing Reveals a Massive Opportunity for AI Infrastructure Giants
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.
