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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, September 20th, Wall Street Journal reports. Shareholders of record on Wednesday, October 2nd will be paid a dividend of 0.0035 per share by the bank on Wednesday, May 7th. This represents a $0.04 annualized dividend and a yield of 1.56%. The ex-dividend date of this dividend is Wednesday, October 2nd.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. 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 NYSE BBD opened at $2.67 on Tuesday. The firm has a 50-day simple moving average of $2.65 and a 200-day simple moving average of $2.59. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $28.40 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. On average, equities analysts predict that Banco Bradesco will post 0.35 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and upped their price target for the company from $2.50 to $3.20 in a research note on Monday, August 19th.

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.