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

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Investors 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% meaning its dividend is sufficiently covered by earnings. Equities research 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 stock traded down $0.03 during midday trading on Thursday, reaching $2.22. The company had a trading volume of 39,862,954 shares, compared to its average volume of 29,663,631. The company has a market capitalization of $23.57 billion, a P/E ratio of 7.38, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98. The firm has a 50-day moving average price of $2.05 and a 200-day moving average price of $2.28.

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

Analysts Set New Price Targets

Several equities analysts have recently issued reports on the company. The Goldman Sachs Group lowered 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 research report on Wednesday, February 12th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a research report on Monday, January 13th.

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.