Banco Bradesco SA (ADR) (NYSE:BBD) shares gained by 4.85%

Posted by Lynn Eisler July 12, 2013 0 Comment 1005 views


Banco Bradesco SA (ADR) (NYSE:BBD) was once reported as the biggest private bank in Brazil until the year 2009 when Unibanco and Banco Itaú got merged. Banco offers a wide range of financial and banking products and services jointly with its auxiliaries such as individual and corporate banking services, mortgage loans, credit operations, leasing operations, mortgage loans, investment banking, securities brokerage, portfolio management, various insurance services and savings bonds among others.

The company has earlier in March had announced it EPS of $0.6966 which was higher than its corresponding quarter in 2012 of $0.6647. The company has a dividend yield of 4.87 which is better than the industry’s dividend yield of 2.88. The company’s average growth of dividend in the past five years stands at 8.03 which is greater as compared to industry’s dividend growth.

The board of Banco Bradesco SA, earlier in the month of June 2013 had announced to roll over a program to repurchase a total of 15 million shares which comprised 7.5 million common shares and another 7.5 million preferred shares under the terms of an existing buyback program. The new program of their repurchase will start on June 27 and will continue until June 26, 2014, as per the statement filed in the Securities Filing by the Osasco, Brazil-based bank.

The stock of the company opened its trading session on Thursday, July 11, 2013 at $11.81 and traded in the range of $11.67 to $12.12 before closing at $12.11. The company’s market capitalization is $50.86 billion with 4.20 billion outstanding shares. The beta of the stock is 1.56 which is highly volatile. The shares of the company are trading ex-interests from July 2, 2013 after the announcement of the company’s record date to be July 1, 2013 for the payment for the Own Capital Interest which is due on August 1, 2013.


About Lynn Eisler

Lynn Eisler is a national news reporter focusing on economic issues, data analysis and the financial health of state and local governments. Lynn has been honored with the H.L. Mencken Award for Investigative Reporting, the Champion of Justice Award for reporting on the drug war, and the John Hancock Award for business reporting. Lynn was also a Knight Medical School Fellow at the University of Michigan.

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