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

Banco Bradesco S.A. (NYSE:BBD) declared a dividend on Wednesday, November 6th,NASDAQ Dividends reports. Investors of record on Wednesday, December 4th will be paid a dividend of 0.0033 per share by the bank on Thursday, January 9th. The ex-dividend date of this dividend is Wednesday, December 4th. This is a boost from Banco Bradesco’s previous dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.45 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 8.9%.

Banco Bradesco Stock Down 1.0 %

NYSE:BBD traded down $0.03 during trading hours on Thursday, hitting $2.39. 32,454,657 shares of the company’s stock traded hands, compared to its average volume of 27,757,748. The business’s fifty day simple moving average is $2.68 and its two-hundred day simple moving average is $2.56. Banco Bradesco has a 52 week low of $2.16 and a 52 week high of $3.65. The company has a debt-to-equity ratio of 0.36, a current ratio of 0.72 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. On average, equities analysts predict that Banco Bradesco will post 0.34 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

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.