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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Wednesday, February 5th will be paid a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, February 5th.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that 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 Up 0.2 %

Shares of BBD opened at $2.12 on Monday. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $3.36. The company has a market cap of $22.51 billion, a PE ratio of 8.13, a P/E/G ratio of 0.25 and a beta of 0.94. The business has a fifty day moving average of $2.00 and a 200 day moving average of $2.38. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last released its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The business had revenue of $9.18 billion during the quarter, compared to the consensus estimate of $5.62 billion. On average, sell-side analysts expect that Banco Bradesco will post 0.33 EPS for the current year.

Analyst Ratings Changes

BBD has been the subject of several research analyst reports. The Goldman Sachs Group decreased their target price on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research report on Friday, January 10th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a research report on Monday, January 13th. Finally, JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

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.