Banco Bradesco S.A. (NYSE:BBD) Declares $0.00 Monthly Dividend

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Monday, October 21st, Zacks reports. Shareholders of record on Tuesday, November 5th will be paid a dividend of 0.002 per share by the bank on Thursday, December 12th. This represents a $0.02 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date is Tuesday, November 5th.

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 Price Performance

Shares of NYSE:BBD opened at $2.61 on Wednesday. The business’s fifty day moving average price is $2.74 and its two-hundred day moving average price is $2.57. The stock has a market cap of $27.82 billion, a PE ratio of 11.46, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76. Banco Bradesco has a one year low of $2.16 and a one year high of $3.65.

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

Analyst Upgrades and Downgrades

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