Banco Bradesco S.A. (NYSE:BBD) Increases Dividend to $0.00 Per Share

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Investors of record on Thursday, April 3rd will be given a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco’s previous monthly dividend of $0.003277.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Price Performance

Shares of NYSE BBD traded down $0.03 during midday trading on Thursday, hitting $2.22. The stock had a trading volume of 39,862,954 shares, compared to its average volume of 29,663,631. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The stock has a 50 day simple moving average of $2.05 and a 200-day simple moving average of $2.28. The company has a market capitalization of $23.57 billion, a PE ratio of 7.38, a P/E/G ratio of 0.32 and a beta of 0.94. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, sell-side analysts expect that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

BBD has been the topic of a number of research analyst reports. The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a report on Monday, January 13th. Finally, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

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.