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

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Saturday, May 31st, investing.com reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.0021 per share by the bank on Wednesday, July 9th. This represents a yield of 0.88%. The ex-dividend date is Wednesday, June 4th.

Banco Bradesco has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities 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 Down 0.3%

Shares of BBD opened at $2.87 on Monday. The firm has a market cap of $30.54 billion, a P/E ratio of 9.57, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $2.96. The company’s 50-day moving average price is $2.43 and its 200 day moving average price is $2.20. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. On average, sell-side analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

BBD has been the topic of a number of recent research reports. Bank of America upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group downgraded Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price target for the company from $2.40 to $2.00 in a report on Wednesday, February 12th. One analyst has rated the stock with a sell rating, one has given a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $2.40.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. boosted its holdings in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after purchasing an additional 17,853,712 shares in the last quarter. Millennium Management LLC boosted its holdings in Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock valued at $15,240,000 after purchasing an additional 1,510,481 shares in the last quarter. Finally, Jones Financial Companies Lllp boosted its holdings in shares of Banco Bradesco by 3,749.8% in the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after acquiring an additional 37,610 shares during the period.

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.