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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Wednesday, October 2nd will be given a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of BBD opened at $2.67 on Tuesday. Banco Bradesco has a 1-year low of $2.16 and a 1-year high of $3.65. The company’s fifty day moving average price is $2.65 and its 200-day moving average price is $2.59. 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 firm has a market capitalization of $28.40 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98.

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

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded 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.

Banco Bradesco Company Profile

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.