Banco Bradesco S.A. to Issue Dividend of $0.00 (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) declared a dividend on Wednesday, October 2nd, investing.com reports. Investors 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 yield of 1.12%. The ex-dividend date of this dividend is Thursday, October 3rd.

Banco Bradesco has a dividend 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 Trading Up 3.9 %

Banco Bradesco stock traded up $0.10 during midday trading on Wednesday, hitting $2.77. 30,229,814 shares of the stock were exchanged, compared to its average volume of 20,816,270. The company has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.59. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65. The stock has a market capitalization of $29.52 billion, a PE ratio of 12.04, a P/E/G ratio of 0.29 and a beta of 0.97. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62.

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 the consensus estimate of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The business 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 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target 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.