Banco Bradesco S.A. Declares — Dividend of $0.04 (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) declared a — dividend on Monday, December 23rd,Wall Street Journal reports. Stockholders of record on Friday, January 3rd will be paid a dividend of 0.0362 per share by the bank on Monday, August 11th. This represents a dividend yield of 6.2%. The ex-dividend date of this dividend is Friday, January 3rd.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.40 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 10.0%.

Banco Bradesco Stock Up 1.6 %

BBD stock opened at $1.93 on Wednesday. The company has a market cap of $20.54 billion, a price-to-earnings ratio of 7.42, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a fifty day moving average price of $2.31 and a 200 day moving average price of $2.46. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.56.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Sell-side analysts expect that Banco Bradesco will post 0.33 earnings per share for the current year.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note 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.