Banco Bradesco S.A. (NYSE:BBD) Declares Dividend Increase – $0.00 Per Share

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Thursday, February 6th,NASDAQ Dividends reports. Stockholders of record on Friday, March 7th will be paid a dividend of 0.0033 per share by the bank on Friday, April 11th. The ex-dividend date of this dividend is Friday, March 7th. This is a boost from Banco Bradesco’s previous dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities research 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 Trading Down 5.6 %

NYSE:BBD traded down $0.13 during mid-day trading on Friday, reaching $2.11. The company’s stock had a trading volume of 79,655,065 shares, compared to its average volume of 49,203,180. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. The stock has a market cap of $22.40 billion, a P/E ratio of 8.10, a P/E/G ratio of 0.28 and a beta of 0.94. The company’s fifty day simple moving average is $1.99 and its two-hundred day simple moving average is $2.38. Banco Bradesco has a twelve month low of $1.84 and a twelve month high of $2.98.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, equities analysts predict that Banco Bradesco will post 0.33 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on BBD shares. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research note on Monday, January 13th. The Goldman Sachs Group lowered their price target on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research report on Friday, January 10th. Finally, JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report 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.