Banco Bradesco S.A. (NYSE:BBD – Get Free Report) declared a monthly dividend on Friday, September 20th, Wall Street Journal reports. Stockholders of record on Wednesday, October 2nd will be given a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 annualized dividend and a dividend yield of 1.56%. The ex-dividend date of this dividend is Wednesday, October 2nd.
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 $0.47 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 8.5%.
Banco Bradesco Price Performance
Shares of Banco Bradesco stock opened at $2.67 on Tuesday. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62. The stock has a market cap of $28.40 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. The company’s 50-day moving average price is $2.65 and its two-hundred day moving average price is $2.59.
Analyst Upgrades and Downgrades
Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th.
Check Out Our Latest Analysis on Banco Bradesco
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.
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