Banco Bradesco S.A. (NYSE:BBD) Raises Dividend to $0.04 Per Share

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be paid a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 dividend on an annualized basis and a yield of 21.06%. The ex-dividend date 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 dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 1.1 %

Shares of Banco Bradesco stock opened at $2.27 on Monday. 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 has a fifty-two week low of $1.84 and a fifty-two week high of $2.98. The firm has a 50-day simple moving average of $2.10 and a two-hundred day simple moving average of $2.25. The company has a market cap of $24.10 billion, a P/E ratio of 7.55, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, equities analysts predict that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have weighed in on BBD. The Goldman Sachs Group lowered 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 report on Wednesday, February 12th. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a research note on Monday, January 13th.

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.