Banco Bradesco S.A. (NYSE:BBD) Declares Dividend Increase – $0.00 Per Share

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Thursday, March 20th, 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 annualized dividend and a dividend yield of 1.80%. The ex-dividend date of this dividend is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco’s previous monthly dividend of $0.003277.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.43 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 Price Performance

Shares of Banco Bradesco stock traded down $0.03 on Thursday, hitting $2.22. 39,862,954 shares of the company were exchanged, compared to its average volume of 29,663,631. 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 company has a 50-day moving average price of $2.05 and a 200 day moving average price of $2.28. The stock has a market capitalization of $23.57 billion, a price-to-earnings ratio of 7.38, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) 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%. As a group, sell-side analysts predict that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BBD. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their price target for the stock from $2.40 to $2.00 in a research note 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.