Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.04 on November 7th

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be given a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 annualized dividend and a yield of 21.06%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a 1,093.7% increase from Banco Bradesco’s previous monthly dividend of $0.00333.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Stock Down 1.1 %

Shares of NYSE BBD opened at $2.27 on Monday. The stock has a 50 day moving average price of $2.10 and a 200 day moving average price of $2.25. The firm has a market capitalization of $24.10 billion, a price-to-earnings ratio of 7.55, a PEG ratio of 0.32 and a beta of 0.94. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $2.98. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Sell-side analysts expect that Banco Bradesco will post 0.37 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBD. HSBC upgraded 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 cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their target price for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

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.