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

Key Points

• Banco Bradesco SA announced a dividend of $0.0023 per share, marking a **7.1% increase** from its previous dividend.
• The bank has a **payout ratio of 9.8%**, indicating that its dividend is well-covered by earnings.
• Recent institutional activity shows significant **increases in holdings**, with Goldman Sachs raising its stake by **116.9%** in the first quarter.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a dividend on Tuesday, July 29th, investing.com reports. Investors of record on Wednesday, August 6th will be paid a dividend of 0.0023 per share by the bank on Thursday, September 11th. This represents a yield of 99.0%. The ex-dividend date of this dividend is Tuesday, August 5th. This is a 7.1% increase from Banco Bradesco's previous dividend of $0.002112.

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 Stock Up 1.4%

NYSE:BBD traded up $0.04 on Friday, reaching $2.81. 29,530,451 shares of the stock traded hands, compared to its average volume of 32,056,876. The company has a market capitalization of $29.90 billion, a price-to-earnings ratio of 8.03, a PEG ratio of 0.39 and a beta of 0.69. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.63. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $3.13. The company's fifty day simple moving average is $2.93 and its 200 day simple moving average is $2.47.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting analysts' consensus estimates of $0.10. The business had revenue of $5.87 billion during 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 13.02%. Equities analysts predict that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBD. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. One research analyst has rated the stock with a sell rating, one has assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average 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.