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

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Tuesday, October 1st, investing.com reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.0026 per share by the bank on Friday, November 8th. This represents a dividend yield of 1.17%. The ex-dividend date is Thursday, October 3rd.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Research 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 Stock Up 1.5 %

BBD stock opened at $2.70 on Wednesday. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65. The business’s 50-day moving average is $2.66 and its two-hundred day moving average is $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. The company has a market cap of $28.78 billion, a price-to-earnings ratio of 11.74, a P/E/G ratio of 0.29 and a beta of 0.98.

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

Wall Street Analysts Forecast Growth

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