Banco Bradesco S.A. (NYSE:BBD) to Issue Monthly Dividend of $0.04

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Friday, March 21st, Wall Street Journal reports. Shareholders of record on Wednesday, April 2nd will be given a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 annualized dividend and a yield of 21.06%. The ex-dividend date is Wednesday, April 2nd. This is a 1,093.7% increase from Banco Bradesco’s previous monthly dividend of $0.00333.

Banco Bradesco has a dividend 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

NYSE:BBD opened at $2.27 on Monday. The company has a 50 day moving average price of $2.10 and a 200-day moving average price of $2.25. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98. The firm has a market cap of $24.10 billion, a price-to-earnings ratio of 7.55, a price-to-earnings-growth 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 (NYSE:BBD) last posted its quarterly earnings data on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. Equities research analysts forecast that Banco Bradesco will post 0.37 EPS for the current year.

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and decreased their price target for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research report on Monday, January 13th.

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.