Banco Bradesco S.A. (NYSE:BBD) Announces Monthly Dividend of $0.04

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Friday, March 21st, Wall Street Journal reports. Investors of record on Wednesday, April 2nd will be given a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 annualized dividend and a yield of 21.06%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a 1,093.7% increase from Banco Bradesco’s previous monthly dividend of $0.00333.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Trading Down 1.1 %

BBD stock opened at $2.27 on Monday. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48. The business’s 50 day moving average is $2.10 and its 200-day moving average is $2.25. The firm has a market cap of $24.10 billion, a P/E ratio of 7.55, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Equities analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on BBD. HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a report on Monday, January 13th. The Goldman Sachs Group lowered Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the stock from $2.40 to $2.00 in a research report 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.