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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Thursday, August 15th, Wall Street Journal reports. Shareholders of record on Wednesday, September 4th will be paid a dividend of 0.0035 per share by the bank on Tuesday, October 8th. This represents a $0.04 annualized dividend and a yield of 1.50%. The ex-dividend date is Wednesday, September 4th.

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

Shares of BBD opened at $2.78 on Tuesday. Banco Bradesco has a one year low of $2.16 and a one year high of $3.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. The firm has a 50 day simple moving average of $2.46 and a two-hundred day simple moving average of $2.60.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The business had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. On average, equities research analysts anticipate that Banco Bradesco will post 0.34 EPS for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group upgraded shares of 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 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.