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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Wednesday, October 2nd will be paid a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.53%. The ex-dividend date is Wednesday, October 2nd.

Banco Bradesco has a dividend payout ratio of 9.8% meaning 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 Stock Performance

Shares of NYSE BBD opened at $2.71 on Monday. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65. The firm has a market capitalization of $28.88 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $2.64 and a 200 day moving average of $2.59.

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price target for the stock 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.