Banco Bradesco SA (NYSE:BBD) declared a monthly dividend on Friday, July 17th, Wall Street Journal reports. Shareholders of record on Wednesday, August 5th will be given a dividend of 0.0036 per share by the bank on Wednesday, September 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.01%. The ex-dividend date of this dividend is Tuesday, August 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00333.
Banco Bradesco has raised its dividend by an average of 21.3% annually over the last three years and has raised its dividend annually for the last 6 consecutive years. Banco Bradesco has a payout ratio of 6.1% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.46 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 6.5%.
NYSE:BBD opened at $4.22 on Friday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.63 and a current ratio of 1.63. The company has a fifty day moving average of $4.15 and a two-hundred day moving average of $4.99. The stock has a market capitalization of $37.29 billion, a PE ratio of 6.64, a P/E/G ratio of 3.76 and a beta of 1.02. Banco Bradesco has a fifty-two week low of $2.68 and a fifty-two week high of $8.47.
Banco Bradesco (NYSE:BBD) last issued its earnings results on Thursday, April 30th. The bank reported $0.09 EPS for the quarter, missing the Zacks’ consensus estimate of $0.11 by ($0.02). The business had revenue of $5.84 billion during the quarter. Banco Bradesco had a net margin of 16.31% and a return on equity of 17.35%. Research analysts forecast that Banco Bradesco will post 0.34 earnings per share for the current year.
A number of equities research analysts have recently commented on the stock. ValuEngine upgraded shares of Banco Bradesco from a “sell” rating to a “hold” rating in a research report on Thursday, July 9th. Citigroup cut shares of Banco Bradesco from a “buy” rating to a “neutral” rating in a research report on Thursday, May 28th. Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “buy” rating and set a $5.00 target price for the company in a research report on Monday, April 6th. Finally, Zacks Investment Research cut shares of Banco Bradesco from a “hold” rating to a “sell” rating in a research report on Friday, June 12th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and four have issued a buy rating to the company. The company currently has an average rating of “Hold” and an average target price of $5.75.
Banco Bradesco Company Profile
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
Further Reading: Understanding Options Trading
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.