Banco Bradesco S.A. (BBD) to Issue Monthly Dividend of $0.00 on May 7th

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, September 20th, Wall Street Journal reports. Investors of record on Wednesday, October 2nd will be given a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.53%. The ex-dividend date is Wednesday, October 2nd.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities research 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 Stock Up 1.5 %

Shares of Banco Bradesco stock opened at $2.71 on Monday. Banco Bradesco has a 52-week low of $2.16 and a 52-week high of $3.65. The company has a 50 day moving average of $2.64 and a 200 day moving average of $2.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $28.88 billion, a P/E ratio of 11.78, a P/E/G ratio of 0.29 and a beta of 0.98.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, research analysts forecast that Banco Bradesco will post 0.35 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their price objective for the company from $2.50 to $3.20 in a report 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.