Wall Street analysts expect Banco Bradesco SA (NYSE:BBD – Get a rating) will report earnings per share (EPS) of $0.13 for the current fiscal quarter, according to Zacks. Two analysts provided earnings estimates for Banco Bradesco, with the highest EPS estimate of $0.13 and the lowest estimate of $0.12. Banco Bradesco reported earnings of $0.12 per share in the same quarter last year, which would indicate a positive growth rate of 8.3% year-over-year. The company is expected to release its next results on Monday, January 1.
On average, analysts expect Banco Bradesco to report annual earnings of $0.53 per share for the current fiscal year, with EPS estimates ranging from $0.52 to $0.54. For the next fiscal year, analysts expect the company to report earnings of $0.56 per share, with EPS estimates ranging from $0.54 to $0.61. Zacks EPS averages are an average based on a survey of analysts who follow Banco Bradesco.
Banco Bradesco (NYSE:BBD- Get a rating) last announced its results on Thursday, May 5. The bank reported earnings per share of $0.12 for the quarter, hitting the consensus estimate of $0.12. The company posted revenue of $8.03 billion in the quarter, versus a consensus estimate of $5.04 billion. Banco Bradesco achieved a net margin of 19.74% and a return on equity of 17.91%.
Separately, Zacks Investment Research moved Banco Bradesco shares from a “hold” rating to a “buy” rating and set a price target of $4.75 for the company in a research note on Tuesday.
Banco Bradesco’s stock traded down $0.04 at midday on Friday, hitting $4.10. The company had a trading volume of 21,980,597 shares, compared to an average volume of 35,214,260. Banco Bradesco has a 1-year low of $2.95 and a 1-year high of $5.18. The company has a debt ratio of 1.51, a current ratio of 1.56 and a quick ratio of 1.56. The company has a market capitalization of $43.83 billion, a P/E ratio of 10.44, a P/E/G ratio of 0.44 and a beta of 0.91. The stock’s 50-day simple moving average is $3.97 and its 200-day simple moving average is $3.66.
The company also recently announced a monthly dividend, which will be paid on Friday, July 8. Shareholders of record on Friday, June 3 will receive a dividend of $0.0037 per share. This represents a dividend of $0.04 on an annualized basis and a yield of 1.07%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Thursday, June 2. Banco Bradesco’s payout ratio is currently 7.64%.
Several hedge funds and other institutional investors have recently increased or reduced their stake in BBD. Itau Unibanco Holding SA increased its stake in Banco Bradesco shares by 216.8% during the 4th quarter. Itau Unibanco Holding SA now owns 26,069,330 shares in the bank worth $87,353,000 after purchasing an additional 17,840,816 shares during the period. TT International Asset Management LTD acquired a new equity stake in Banco Bradesco during Q3 worth approximately $58,515,000. Allspring Global Investments Holdings LLC purchased a new stake in Banco Bradesco during Q4 for approximately $43,521,000. Baillie Gifford & Co. increased its stake in Banco Bradesco by 24.4% in the 1st quarter. Baillie Gifford & Co. now owns 50,258,179 shares of the bank worth $233,198,000 after acquiring 9,873,053 additional shares in the last quarter. Finally, Bank of America Corp DE increased its stake in Banco Bradesco by 89.7% during the 4th quarter. Bank of America Corp DE now owns 15,093,924 shares of the bank worth $51,621,000 after acquiring an additional 7,136,895 shares in the last quarter. Institutional investors and hedge funds hold 2.25% of the company’s shares.
About Banco Bradesco (Get a rating)
Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, businesses and companies in Brazil and abroad. The Company operates through two segments, Banking and Insurance. It provides current, savings, click and salary accounts; real estate credit, car financing, salary credit, mortgage loan, microcredit, leasing, personal and installment credit; debit and business cards; financial and security services; consortium products; automobile, personal accident, dental, travel and life insurance; investment products; retirement products; real estate and vehicle auctions; cash management and foreign trade and foreign exchange services; capitalization bonds; and online banking.
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