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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Investors of record on Wednesday, February 5th will be paid a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, February 5th.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.40 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 10.0%.

Banco Bradesco Stock Performance

Banco Bradesco stock traded down $0.03 during trading hours on Friday, reaching $1.88. 59,822,484 shares of the company were exchanged, compared to its average volume of 52,757,727. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.36. The firm has a market cap of $20.01 billion, a price-to-earnings ratio of 7.23, a PEG ratio of 0.32 and a beta of 0.94. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average of $2.13 and a 200 day moving average of $2.42.

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. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. As a group, research analysts anticipate that Banco Bradesco will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBD. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. The Goldman Sachs Group reduced their price objective on Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research report on Friday.

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.