Banco Bradesco S.A. (NYSE:BBD – Get Free Report) announced a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Shareholders of record on Wednesday, February 5th will be paid a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a yield of 1.76%. The ex-dividend date is Wednesday, February 5th.
Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. 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 Up 0.2 %
Shares of BBD opened at $2.12 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $3.36. The company has a 50 day simple moving average of $2.00 and a two-hundred day simple moving average of $2.38. The firm has a market cap of $22.51 billion, a P/E ratio of 8.13, a price-to-earnings-growth ratio of 0.25 and a beta of 0.94.
Wall Street Analysts Forecast Growth
A number of equities research analysts have 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 report on Monday, January 13th. The Goldman Sachs Group lowered their target price 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 research report on Monday, November 25th.
Get Our Latest Research Report on BBD
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.
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