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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Wednesday, October 2nd will be paid a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 dividend on an annualized basis 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. Equities 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 Price Performance

Shares of NYSE BBD opened at $2.71 on Monday. Banco Bradesco has a twelve month low of $2.16 and a twelve month high of $3.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The stock’s 50 day moving average price is $2.64 and its 200-day moving average price is $2.59. The company has a market capitalization of $28.88 billion, a PE ratio of 11.78, a PEG ratio of 0.29 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price objective for the company 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.