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

Key Points

• Banco Bradesco SA announced a monthly dividend of $0.0035 per share, reflecting a 55.4% increase from the previous dividend.
• The bank's payout ratio stands at 9.8%, indicating that the dividend is well-covered by earnings, with an expected future payout ratio projected at 9.3%.
• Several analysts have upgraded Banco Bradesco's stock rating, with an average target price of $2.40, reflecting positive market sentiment.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a monthly dividend on Tuesday, August 12th. Investors of record on Wednesday, September 3rd will be given a dividend of 0.0035 per share by the bank on Wednesday, October 8th. This represents a c) annualized dividend and a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a 55.4% increase from Banco Bradesco's previous monthly dividend of $0.002262.

Banco Bradesco has a payout ratio of 9.8% indicating that 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 Performance

NYSE BBD opened at $3.10 on Monday. The stock has a market capitalization of $32.99 billion, a price-to-earnings ratio of 8.86, a PEG ratio of 0.43 and a beta of 0.76. The business's 50 day moving average is $2.94 and its two-hundred day moving average is $2.60. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $3.13. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 EPS for the quarter, meeting the consensus estimate of $0.10. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.The business had revenue of $5.87 billion during the quarter, compared to analysts' expectations of $32.70 billion. Research analysts expect that Banco Bradesco will post 0.37 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BBD shares. Bank of America raised Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a report on Wednesday, May 28th. Three research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat.com, Banco Bradesco currently has an average rating of "Hold" and an average price target 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.