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

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Shareholders 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 dividend yield of 1.79%. 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

Banco Bradesco stock opened at $2.24 on Tuesday. The company’s fifty day moving average price is $2.10 and its 200 day moving average price is $2.24. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98. The stock has a market capitalization of $23.79 billion, a P/E ratio of 7.45, 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 quick ratio of 0.72 and a current ratio of 1.01.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share 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%. As a group, equities research analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

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

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.