Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on May 7th

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, September 20th, Wall Street Journal reports. Investors of record on Wednesday, October 2nd will be given 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 payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. 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 Trading Up 1.5 %

NYSE BBD opened at $2.71 on Monday. The stock has a market cap of $28.88 billion, a P/E ratio of 11.78, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The stock has a 50 day simple moving average of $2.64 and a two-hundred day simple moving average of $2.59. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76.

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

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price target for the stock from $2.50 to $3.20 in a research note 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.