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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, September 24th, Wall Street Journal reports. Investors of record on Thursday, October 3rd will be given a dividend of 0.0035 per share by the bank on Friday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 1.61%. The ex-dividend date is Thursday, October 3rd.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. 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 Stock Performance

BBD traded up $0.01 on Tuesday, reaching $2.58. 55,766,235 shares of the stock were exchanged, compared to its average volume of 20,089,660. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. The company’s 50-day moving average price is $2.62 and its 200 day moving average price is $2.60. The firm has a market capitalization of $27.50 billion, a PE ratio of 11.22, a PEG ratio of 0.31 and a beta of 0.98. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, sell-side analysts forecast that Banco Bradesco will post 0.35 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their target price for the company from $2.50 to $3.20 in a 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.