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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders 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 is Wednesday, February 5th.

Banco Bradesco has a 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 Trading Down 1.6 %

BBD stock traded down $0.03 during midday trading on Friday, hitting $1.88. The stock had a trading volume of 59,822,484 shares, compared to its average volume of 52,757,727. The company’s 50-day moving average price is $2.13 and its 200 day moving average price is $2.42. 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 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 PE ratio of 7.23, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating the consensus estimate of $0.09 by $0.01. The business had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, equities research analysts predict that Banco Bradesco will post 0.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. The Goldman Sachs Group lowered their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a research note on Friday. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.