Banco Bradesco SA Declares -- Dividend of $0.04 (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a -- dividend on Tuesday, June 24th, Wall Street Journal reports. Investors of record on Wednesday, July 2nd will be given a dividend of 0.0351 per share by the bank on Tuesday, February 10th. This represents a dividend yield of 4.7%. The ex-dividend date is Wednesday, July 2nd.

Banco Bradesco has a dividend payout ratio of 9.8% indicating that 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 traded up $0.01 during trading hours on Tuesday, reaching $3.03. The company had a trading volume of 42,989,720 shares, compared to its average volume of 36,350,096. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63. The stock has a 50-day moving average of $2.69 and a two-hundred day moving average of $2.28. Banco Bradesco has a one year low of $1.84 and a one year high of $3.12. The firm has a market capitalization of $32.19 billion, a PE ratio of 9.45, a PEG ratio of 0.44 and a beta of 0.71.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.09. The firm had revenue of $5.69 billion during the quarter, compared to the consensus estimate of $31.24 billion. Banco Bradesco had a net margin of 9.08% and a return on equity of 12.33%. Analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup upgraded Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. One investment analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $2.40.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Goldman Sachs Group Inc. lifted its stake in shares of Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock valued at $73,885,000 after acquiring an additional 17,853,712 shares during the period. Millennium Management LLC lifted its position in Banco Bradesco by 28.4% during the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the period. Finally, Jones Financial Companies Lllp boosted its stake in shares of Banco Bradesco by 3,749.8% in the 1st quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock valued at $86,000 after purchasing an additional 37,610 shares during the last quarter.

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.

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