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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Wednesday, February 5th will be paid a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, February 5th.

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

BBD stock traded down $0.03 during trading on Friday, hitting $1.88. The company had a trading volume of 59,822,484 shares, compared to its average volume of 52,757,727. The company has a fifty day moving average price of $2.13 and a two-hundred day moving average price of $2.42. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $3.36. The company has a market cap of $20.01 billion, a P/E ratio of 7.23, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data 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 return on equity of 10.17% and a net margin of 7.43%. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Equities research analysts expect that Banco Bradesco will post 0.33 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BBD has been the topic of a number of recent analyst reports. The Goldman Sachs Group reduced their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a 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.