Banco Bradesco SA (BBD) To Go Ex-Dividend on October 15th

Banco Bradesco SA (NYSE:BBD) announced a special dividend on Thursday, October 1st. Shareholders of record on Thursday, October 15th will be given a dividend of $0.0728 per share by the bank on Monday, May 10th. The ex-dividend date of this dividend is Thursday, October 15th.

Banco Bradesco has raised its dividend by an average of 0.2%annually over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.55 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 3.6%.

Banco Bradesco Stock Up 3.8%

Shares of NYSE:BBD opened at $3.65 on Friday. The firm has a fifty day moving average price of $3.39 and a two-hundred day moving average price of $3.54. The company has a market cap of $38.63 billion, a price-to-earnings ratio of 8.68, a PEG ratio of 0.54 and a beta of 0.45. The company has a debt-to-equity ratio of 2.93, a current ratio of 1.48 and a quick ratio of 1.48. Banco Bradesco has a one year low of $2.98 and a one year high of $4.30.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $6.77 billion for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Analysts anticipate that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of BBD. Arrowstreet Capital Limited Partnership grew its position in Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock valued at $273,604,000 after acquiring an additional 16,908,425 shares during the last quarter. Franklin Resources Inc. grew its stake in shares of Banco Bradesco by 2,469.2% during the fourth quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock valued at $159,664,000 after buying an additional 46,080,856 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of Banco Bradesco by 355.9% in the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock valued at $102,487,000 after acquiring an additional 21,920,074 shares during the last quarter. Amundi grew its position in Banco Bradesco by 20.0% during the 1st quarter. Amundi now owns 24,583,083 shares of the bank’s stock worth $89,728,000 after acquiring an additional 4,099,099 shares during the last quarter. Finally, Sei Investments Co. boosted its stake in shares of Banco Bradesco by 3.4% during the first quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after purchasing an additional 641,744 shares during the period.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.