Banco Bradesco S.A. (NYSE:BBD) to Issue Dividend of $0.00

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Wednesday, October 2nd, investing.com reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.0026 per share by the bank on Friday, November 8th. This represents a dividend yield of 1.12%. 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. 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 3.9 %

Shares of NYSE BBD traded up $0.10 during mid-day trading on Wednesday, hitting $2.77. 30,229,814 shares of the company traded hands, compared to its average volume of 20,816,270. Banco Bradesco has a 1 year low of $2.16 and a 1 year high of $3.65. The stock has a market capitalization of $29.52 billion, a price-to-earnings ratio of 12.04, a PEG ratio of 0.29 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The business has a 50 day moving average of $2.67 and a two-hundred day moving average of $2.59.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.08 by $0.01. The firm 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, sell-side analysts anticipate that Banco Bradesco will post 0.35 earnings per share for the current fiscal 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 price objective for the stock 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.