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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Thursday, March 20th, Wall Street Journal reports. Investors of record on Thursday, April 3rd will be paid a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 annualized dividend and a yield of 1.80%. The ex-dividend date is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco’s previous monthly dividend of $0.003277.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Stock Down 1.1 %

NYSE BBD traded down $0.03 on Thursday, hitting $2.22. 39,862,954 shares of the stock were exchanged, compared to its average volume of 29,663,631. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $2.98. The company has a 50-day moving average price of $2.05 and a 200-day moving average price of $2.28. The company has a market cap of $23.57 billion, a PE ratio of 7.38, a PEG ratio of 0.32 and a beta of 0.94. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Sell-side analysts anticipate that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on BBD shares. HSBC raised Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research report on Monday, January 13th. The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their price objective for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th. Finally, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report 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.