Banco Bradesco SA (NYSE:BBD) Announces Dividend Increase - $0.00 Per Share

Key Points

• Banco Bradesco increased its monthly dividend by 0.5% to $0.0037 per share, payable October 8 to shareholders of record on September 3. The annualized yield is approximately 1.4%, and the dividend is well covered by earnings.
• The stock rose 0.3% to $3.22 during trading, but remains below its 50-day and 200-day moving averages. Banco Bradesco reported quarterly EPS of $0.12 and revenue of $6.77 billion.
• Analyst sentiment is mixed: Weiss Ratings downgraded the stock from “buy” to “hold,” while the broader consensus remains “Moderate Buy,” split between one Buy and one Hold rating.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a monthly dividend on Tuesday, August 11th. Investors of record on Thursday, September 3rd will be given a dividend of 0.0037 per share by the bank on Thursday, October 8th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Thursday, September 3rd. This is a 0.5% increase from Banco Bradesco's previous monthly dividend of $0.003702.

Banco Bradesco has raised its dividend by an average of 0.2%annually over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.56 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 3.6%.

Banco Bradesco Trading Up 0.3%

NYSE BBD traded up $0.01 during trading on Wednesday, hitting $3.22. The stock had a trading volume of 16,474,486 shares, compared to its average volume of 35,992,773. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The stock has a 50 day simple moving average of $3.48 and a 200 day simple moving average of $3.70. Banco Bradesco has a one year low of $2.84 and a one year high of $4.30. The stock has a market capitalization of $34.12 billion, a price-to-earnings ratio of 7.67, a P/E/G ratio of 0.41 and a beta of 0.53.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its earnings results on Tuesday, June 30th. The bank reported $0.12 EPS for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The business had revenue of $6.77 billion for the quarter. Sell-side analysts predict that Banco Bradesco will post 0.5 earnings per share for the current year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, July 24th. One research analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to data from MarketBeat, Banco Bradesco currently has a consensus rating of "Moderate Buy".

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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