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

Banco Bradesco S.A. (NYSE:BBD) announced a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.0033 per share by the bank on Thursday, January 9th. The ex-dividend date is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.45 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 8.9%.

Banco Bradesco Price Performance

Shares of NYSE:BBD traded down $0.03 during midday trading on Thursday, reaching $2.39. The company had a trading volume of 32,454,657 shares, compared to its average volume of 27,757,748. The company has a fifty day simple moving average of $2.68 and a two-hundred day simple moving average of $2.56. Banco Bradesco has a 1-year low of $2.16 and a 1-year high of $3.65. 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 earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping the consensus estimate of $0.09 by $0.01. The company had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. Research analysts forecast that Banco Bradesco will post 0.34 earnings per share for the current year.

Analysts Set New Price Targets

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

Banco Bradesco Company Profile

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.