Banco Bradesco (NYSE:BBDO) Posts Earnings Results

Banco Bradesco (NYSE:BBDO) posted its quarterly earnings data on Thursday. The bank reported $0.08 earnings per share (EPS) for the quarter, reports. Banco Bradesco had a net margin of 6.38% and a return on equity of 9.06%. The company had revenue of $9.64 billion for the quarter.

Banco Bradesco Stock Up 1.4 %

NYSE BBDO opened at $2.43 on Friday. The company has a current ratio of 0.97, a quick ratio of 0.97 and a debt-to-equity ratio of 0.84. Banco Bradesco has a 12-month low of $2.30 and a 12-month high of $3.21. The firm’s 50 day moving average is $2.49 and its 200-day moving average is $2.70.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, June 10th. Stockholders of record on Monday, May 6th will be issued a $0.0033 dividend. The ex-dividend date of this dividend is Friday, May 3rd. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.62%.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors have recently added to or reduced their stakes in the company. QRG Capital Management Inc. increased its holdings in Banco Bradesco by 41.2% during the fourth quarter. QRG Capital Management Inc. now owns 16,795 shares of the bank’s stock worth $53,000 after buying an additional 4,898 shares during the last quarter. Advisors Preferred LLC acquired a new position in Banco Bradesco during the fourth quarter worth $79,000. Profund Advisors LLC acquired a new position in Banco Bradesco during the third quarter worth $195,000. Schechter Investment Advisors LLC acquired a new position in Banco Bradesco during the third quarter worth $63,000. Finally, Mirae Asset Global Investments Co. Ltd. acquired a new position in Banco Bradesco during the third quarter worth $364,000.

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.