Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on May 9th

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Stockholders of record on Thursday, April 3rd will be given a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco’s previous monthly dividend of $0.003277.

Banco Bradesco has a dividend payout ratio of 9.8% meaning 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 1.5 %

Banco Bradesco stock opened at $2.24 on Tuesday. The company has a quick ratio of 0.72, a current ratio of 1.01 and a debt-to-equity ratio of 2.48. The firm has a market cap of $23.79 billion, a P/E ratio of 7.45, a P/E/G ratio of 0.32 and a beta of 0.94. The business has a fifty day moving average of $2.10 and a two-hundred day moving average of $2.24. Banco Bradesco has a twelve month low of $1.84 and a twelve month high of $2.98.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on BBD. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and reduced 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.