Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on May 7th

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, September 20th, Wall Street Journal reports. Investors 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 annualized dividend and a yield of 1.53%. The ex-dividend date of this dividend is Wednesday, October 2nd.

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 Price Performance

Shares of Banco Bradesco stock opened at $2.71 on Monday. The stock has a market capitalization of $28.88 billion, a P/E ratio of 11.78, a PEG ratio of 0.29 and a beta of 0.98. The business has a 50 day simple moving average of $2.64 and a two-hundred day simple moving average of $2.59. Banco Bradesco has a 12 month low of $2.16 and a 12 month high of $3.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76.

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $3.20 in a research note 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.