Banco Bradesco SA (NYSE:BBD) Declares $0.00 Monthly Dividend

Banco Bradesco SA (NYSE:BBD) declared a monthly dividend on Wednesday, September 9th. Investors of record on Monday, October 5th will be paid a dividend of 0.0037 per share by the bank on Tuesday, November 10th. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Monday, October 5th.

Banco Bradesco has raised its dividend payment by an average of 0.2%annually over the last three years. Banco Bradesco has a payout ratio of 4.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.56 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 Trading Up 3.9%

Shares of NYSE:BBD traded up $0.14 during trading hours on Thursday, hitting $3.56. 27,148,985 shares of the company’s stock traded hands, compared to its average volume of 35,263,426. Banco Bradesco has a 1 year low of $2.98 and a 1 year high of $4.30. The business has a fifty day moving average price of $3.42 and a 200-day moving average price of $3.59. The firm has a market capitalization of $37.78 billion, a P/E ratio of 8.49, a price-to-earnings-growth ratio of 0.43 and a beta of 0.52. 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 (NYSE:BBD) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The firm had revenue of $6.77 billion for the quarter. Equities analysts expect that Banco Bradesco will post 0.5 earnings per share for the current year.

Analysts Set New Price Targets

Separately, Weiss Ratings cut shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy”.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Founded in 1943 in Marília, São Paulo, the bank provides financial products and services to individual, business and corporate customers throughout Brazil.

Its activities include retail and commercial banking, corporate lending, deposits, payment services, credit and debit cards, investment products, asset management, leasing and consortium services. Through Bradesco Seguros, the group also offers insurance, pension and capitalization products.

Bradesco serves customers through a nationwide network of branches and digital channels, with operations focused primarily on Brazil and selected international activities designed to support Brazilian companies and clients abroad.