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

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Thursday, February 6th,NASDAQ Dividends reports. Shareholders of record on Friday, March 7th will be given a dividend of 0.0033 per share by the bank on Friday, April 11th. The ex-dividend date is Friday, March 7th. This is a positive change from Banco Bradesco’s previous dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Down 5.6 %

Shares of BBD stock traded down $0.13 on Friday, reaching $2.11. 79,655,065 shares of the company were exchanged, compared to its average volume of 49,203,180. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The company has a 50-day moving average of $1.99 and a 200-day moving average of $2.38. The company has a market cap of $22.40 billion, a price-to-earnings ratio of 8.10, a PEG ratio of 0.28 and a beta of 0.94. Banco Bradesco has a one year low of $1.84 and a one year high of $2.98.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Analysts anticipate that Banco Bradesco will post 0.33 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on BBD shares. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group lowered their target price on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday, January 10th.

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.