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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Wednesday, December 4th will be given a dividend of 0.0033 per share by the bank on Thursday, January 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date of this dividend is Wednesday, December 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.003.

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 $0.43 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 BBD opened at $2.13 on Monday. Banco Bradesco has a fifty-two week low of $2.02 and a fifty-two week high of $3.65. The firm’s 50-day simple moving average is $2.52 and its two-hundred day simple moving average is $2.52. The stock has a market cap of $22.70 billion, a PE ratio of 8.19, a price-to-earnings-growth ratio of 0.25 and a beta of 0.97. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Analysts anticipate that Banco Bradesco will post 0.34 earnings per share for the current fiscal year.

Analysts Set New Price Targets

BBD has been the subject of a number of analyst reports. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price objective for the company from $2.50 to $3.20 in a research report on Monday, August 19th.

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.