Banco Bradesco S.A. (NYSE:BBD) Plans Dividend Increase – $0.00 Per Share

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders of record on Thursday, April 3rd will be paid a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco’s previous monthly dividend of $0.003277.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Price Performance

BBD traded down $0.03 during midday trading on Thursday, reaching $2.22. 39,862,954 shares of the company’s stock were exchanged, compared to its average volume of 29,663,631. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The stock has a market capitalization of $23.57 billion, a PE ratio of 7.38, a P/E/G ratio of 0.32 and a beta of 0.94. The business’s 50-day moving average price is $2.05 and its 200 day moving average price is $2.28. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, equities analysts anticipate that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

BBD has been the subject of a number of recent research reports. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a report on Monday, January 13th. Finally, The Goldman Sachs Group downgraded shares of Banco Bradesco from a “buy” rating to a “sell” rating and lowered their price target for the stock from $2.40 to $2.00 in a report on Wednesday, February 12th.

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.