Banco Bradesco SA (NYSE:BBD) Announces $0.00 Monthly Dividend

Key Points

• Banco Bradesco SA announced a monthly dividend of $0.0035 per share, payable on December 8th, with a current dividend yield of 1.3% and a payout ratio of 9.8%, indicating strong earnings coverage.
• The stock of Banco Bradesco rose by 2.4% on Tuesday, trading at $3.17, with a 12-month price range between $1.84 and $3.41.
• Analysts maintain a consensus "Hold" rating for Banco Bradesco, with three Buy ratings and an average target price of $2.40.

Banco Bradesco SA (NYSE:BBD - Get Free Report) announced a monthly dividend on Monday, October 13th. Stockholders of record on Wednesday, November 5th will be given a dividend of 0.0035 per share by the bank on Monday, December 8th. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, November 5th.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. 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 2.4%

Shares of Banco Bradesco stock traded up $0.08 on Tuesday, hitting $3.17. 40,298,078 shares of the company traded hands, compared to its average volume of 43,133,457. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a market cap of $33.68 billion, a PE ratio of 9.04, a PEG ratio of 0.37 and a beta of 0.75. The company has a 50-day moving average price of $3.11 and a 200 day moving average price of $2.84.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The firm had revenue of $5.87 billion for the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a net margin of 9.76% and a return on equity of 12.96%. Sell-side analysts predict that Banco Bradesco will post 0.37 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average 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.

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