Banco Bradesco S.A. (BBD) To Go Ex-Dividend on April 3rd

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders of record on Thursday, April 3rd will be paid a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 annualized dividend and a yield of 1.80%. The ex-dividend date 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% 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 Stock Performance

Banco Bradesco stock traded down $0.03 during midday trading on Thursday, hitting $2.22. 39,862,954 shares of the company’s stock were exchanged, compared to its average volume of 29,663,631. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $2.98. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The stock has a market cap 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. The firm’s 50 day simple moving average is $2.05 and its 200 day simple moving average is $2.28.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. Equities research analysts predict that Banco Bradesco will post 0.37 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the stock. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research note on Monday, January 13th. Finally, The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price objective for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th.

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.