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

Banco Bradesco S.A. (NYSE:BBD) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.0033 per share by the bank on Thursday, January 9th. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost 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. Equities analysts expect Banco Bradesco to earn $0.45 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 8.9%.

Banco Bradesco Stock Performance

Shares of BBD stock traded down $0.03 during midday trading on Thursday, reaching $2.39. 32,454,657 shares of the stock were exchanged, compared to its average volume of 27,757,748. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The company’s 50 day moving average is $2.68 and its two-hundred day moving average is $2.56. Banco Bradesco has a 1 year low of $2.16 and a 1 year high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. Research analysts expect that Banco Bradesco will post 0.34 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their target price 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.