Banco Bradesco SA (NYSE:BBD) Announces Dividend Increase – $0.00 Per Share

Banco Bradesco SA (NYSE:BBD) announced a monthly dividend on Tuesday, August 12th. Shareholders of record on Wednesday, September 3rd will be given a dividend of 0.0035 per share by the bank on Wednesday, October 8th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date is Wednesday, September 3rd. This is a 55.4% increase from Banco Bradesco’s previous monthly dividend of $0.002262.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that 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 Price Performance

Shares of BBD opened at $3.10 on Monday. The company has a market capitalization of $32.99 billion, a price-to-earnings ratio of 8.86, a P/E/G ratio of 0.43 and a beta of 0.76. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $3.13. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The business’s 50-day moving average is $2.94 and its 200-day moving average is $2.60.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.10. The company had revenue of $5.87 billion for the quarter, compared to the consensus estimate of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. Equities research analysts expect that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BBD has been the topic of a number of research reports. Citigroup upgraded Banco Bradesco from a “hold” rating to a “buy” rating in a report on Wednesday, May 28th. Bank of America raised Banco Bradesco from a “neutral” rating to a “buy” rating in a research note on Thursday, May 8th. Three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Banco Bradesco has a consensus rating of “Hold” and an average price target of $2.40.

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.