Banco Bradesco SA (NYSE:BBD) Shareholders to Get $0.00 Monthly Dividend

Banco Bradesco SA (NYSE:BBD) declared a monthly dividend on Thursday, November 5th. Stockholders of record on Thursday, December 3rd will be given a dividend of $0.0035 per share by the bank on Monday, January 11th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Thursday, December 3rd. This is a 9.2% decrease from Banco Bradesco’s previous monthly dividend of $0.0038.

Banco Bradesco has raised its dividend by an average of 0.2% per year over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.50 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 4.0%.

Banco Bradesco Price Performance

NYSE BBD traded up $0.04 during trading on Friday, reaching $2.56. The company’s stock had a trading volume of 11,182,722 shares, compared to its average volume of 38,385,246. The firm has a fifty day moving average of $3.52 and a 200 day moving average of $3.63. The stock has a market capitalization of $27.02 billion, a PE ratio of 5.55, a P/E/G ratio of 0.46 and a beta of 0.56. The company has a debt-to-equity ratio of 2.78, a current ratio of 1.72 and a quick ratio of 1.72. Banco Bradesco has a one year low of $2.44 and a one year high of $4.58.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, October 22nd. The bank reported $0.12 earnings per share for the quarter, missing the consensus estimate of $0.13 by ($0.01). The company had revenue of $6.32 billion for the quarter, compared to analysts’ expectations of $7.52 billion. Banco Bradesco had a net margin of 12.58% and a return on equity of 15.06%. Analysts expect that Banco Bradesco will post 0.49 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on BBD shares. JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 29th. Bradesco Corretora lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Thursday, October 29th. Citigroup lowered Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Tuesday, October 27th. The Goldman Sachs Group restated a “neutral” rating and issued a $4.20 target price on shares of Banco Bradesco in a report on Friday, October 9th. Finally, HSBC downgraded shares of Banco Bradesco from a “buy” rating to a “hold” rating and set a $3.90 target price on the stock. in a research note on Thursday, October 8th. One research analyst has rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.05.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943, the bank serves individuals, businesses and institutional clients through a broad network of branches, digital channels and automated banking services.

Bradesco offers traditional banking products and services, including checking and savings accounts, personal and commercial loans, credit and debit cards, payment solutions, foreign exchange and investment products. Through its related businesses, the company also provides insurance, pension and capitalization products, asset management, brokerage and other financial services.

The company primarily serves customers in Brazil and maintains international activities to support corporate and institutional clients, including services related to international banking and trade.