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

Banco Bradesco SA (NYSE:BBD - Get Free Report) announced a -- dividend on Tuesday, June 24th, Wall Street Journal reports. Shareholders 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 payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. 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 Stock Up 0.8%

Shares of Banco Bradesco stock traded up $0.03 on Friday, reaching $3.04. The company's stock had a trading volume of 26,992,712 shares, compared to its average volume of 36,629,229. The company has a market capitalization of $32.30 billion, a price-to-earnings ratio of 9.48, a P/E/G ratio of 0.43 and a beta of 0.71. The firm's fifty day simple moving average is $2.75 and its two-hundred day simple moving average is $2.30. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.12. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Wednesday, May 7th. The bank reported $0.09 EPS for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $5.69 billion during the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a return on equity of 12.33% and a net margin of 9.08%. Equities analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current year.

Institutional Trading of Banco Bradesco

Large investors have recently modified their holdings of the company. Jones Financial Companies Lllp grew its holdings in shares of Banco Bradesco by 3,749.8% in the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock worth $86,000 after acquiring an additional 37,610 shares during the period. Millennium Management LLC grew its holdings in shares of Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock worth $15,240,000 after acquiring an additional 1,510,481 shares during the period. Finally, Goldman Sachs Group Inc. grew its holdings in shares of Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock worth $73,885,000 after acquiring an additional 17,853,712 shares during the period.

Analysts Set New Price Targets

BBD has been the subject of a number of research analyst reports. Citigroup raised Banco Bradesco from a "hold" rating to a "buy" rating in a report on Wednesday, May 28th. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. One equities research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Banco Bradesco has an average rating of "Hold" and a consensus target price of $2.40.

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.