Banco Bradesco S.A. Declares Monthly Dividend of $0.00 (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, January 10th,Wall Street Journal reports. Investors of record on Wednesday, February 5th will be paid a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 annualized dividend and a yield of 1.98%. The ex-dividend date of this dividend is Wednesday, February 5th.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.40 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 10.0%.

Banco Bradesco Stock Down 1.6 %

BBD traded down $0.03 during trading hours on Friday, hitting $1.88. 59,822,205 shares of the company’s stock were exchanged, compared to its average volume of 52,757,652. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.36. The firm has a 50 day moving average of $2.13 and a 200 day moving average of $2.42. The firm has a market cap of $20.01 billion, a P/E ratio of 7.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Analysts predict that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Analysts Set New Price Targets

BBD has been the topic of a number of recent analyst reports. The Goldman Sachs Group dropped their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research report on Friday. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

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.