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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Monday, October 21st, Zacks reports. Shareholders of record on Tuesday, November 5th will be given a dividend of 0.002 per share by the bank on Thursday, December 12th. This represents a $0.02 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date of this dividend is Tuesday, November 5th.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

BBD stock opened at $2.64 on Wednesday. Banco Bradesco has a 1 year low of $2.16 and a 1 year high of $3.65. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. The firm has a market capitalization of $28.09 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. The business has a 50 day simple moving average of $2.74 and a 200-day simple moving average of $2.57.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The company had revenue of $9.64 billion for the quarter, compared to analyst estimates of $5.47 billion. Equities research analysts anticipate that Banco Bradesco will post 0.35 earnings per share for the current fiscal 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 raised their price objective for the stock from $2.50 to $3.20 in a research report 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.