Banco Bradesco S.A. (BBD) to Distribute Dividend of $0.00 on November 8th

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Tuesday, October 1st, investing.com reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.0026 per share by the bank on Friday, November 8th. This represents a yield of 1.17%. The ex-dividend date is Thursday, October 3rd.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that 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 Performance

NYSE BBD opened at $2.67 on Tuesday. The company has a 50-day simple moving average of $2.65 and a two-hundred day simple 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. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65. The firm has a market cap of $28.40 billion, a price-to-earnings ratio of 11.59, a PEG ratio of 0.29 and a beta of 0.98.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Monday, August 5th. The bank reported $0.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The firm had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. On average, equities analysts forecast that Banco Bradesco will post 0.35 EPS for the current year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and raised their target price for the stock from $2.50 to $3.20 in a research report on Monday, August 19th.

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.