Banco Bradesco S.A. (NYSE:BBD) Declares $0.00 Monthly Dividend

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Tuesday, September 24th, Wall Street Journal reports. Investors of record on Thursday, October 3rd will be paid a dividend of 0.0035 per share by the bank on Friday, November 8th. This represents a $0.04 dividend on an annualized basis and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 3rd.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Bradesco to earn $0.47 per share next year, which means the company should continue to be able to cover its $0.04 annual dividend with an expected future payout ratio of 8.5%.

Banco Bradesco Trading Up 0.8 %

BBD traded up $0.02 on Tuesday, reaching $2.59. 45,225,559 shares of the company traded hands, compared to its average volume of 20,034,508. Banco Bradesco has a one year low of $2.16 and a one year high of $3.65. The firm has a fifty day simple moving average of $2.61 and a two-hundred day simple moving average of $2.60. The company has a market cap of $27.61 billion, a P/E ratio of 11.15, a price-to-earnings-growth ratio of 0.31 and a beta of 0.98. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $9.64 billion for the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, equities research analysts expect that Banco Bradesco will post 0.35 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

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.