Banco Bradesco S.A. (NYSE:BBD) Announces $0.04 — Dividend

Banco Bradesco S.A. (NYSE:BBD) declared a — dividend on Monday, December 23rd,Wall Street Journal reports. Shareholders of record on Friday, January 3rd will be given a dividend of 0.0362 per share by the bank on Monday, August 11th. This represents a yield of 6.2%. The ex-dividend date is Friday, January 3rd.

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 $0.40 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 10.0%.

Banco Bradesco Trading Down 1.6 %

Shares of Banco Bradesco stock opened at $1.90 on Tuesday. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.56. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $2.33 and its 200-day moving average is $2.46. The stock has a market cap of $20.22 billion, a P/E ratio of 7.31, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to analysts’ expectations of $5.62 billion. Equities research analysts predict that Banco Bradesco will post 0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.