Banco Bradesco S.A. (NYSE:BBD) Announces Dividend of $0.00

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) announced a dividend on Saturday, May 31st, investing.com reports. Investors of record on Thursday, June 5th will be paid a dividend of 0.0021 per share by the bank on Wednesday, July 9th. This represents a yield of 0.88%. The ex-dividend date is Wednesday, June 4th.

Banco Bradesco has a payout ratio of 9.8% meaning 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 1.0%

BBD traded up $0.03 during trading hours on Monday, hitting $2.91. 67,708,719 shares of the company's stock were exchanged, compared to its average volume of 34,894,136. Banco Bradesco has a 12-month low of $1.84 and a 12-month high of $2.96. The firm has a 50 day moving average of $2.43 and a 200 day moving average of $2.20. The firm has a market cap of $30.97 billion, a P/E ratio of 9.70, a price-to-earnings-growth ratio of 0.32 and a beta of 0.65. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. The firm had revenue of $5.69 billion for the quarter, compared to the consensus estimate of $31.24 billion. Analysts predict that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. increased its stake in Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank's stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of Banco Bradesco by 3,749.8% in the 1st quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock valued at $86,000 after purchasing an additional 37,610 shares during the last quarter. Finally, Millennium Management LLC boosted its position in shares of Banco Bradesco by 28.4% in the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the period.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Citigroup upgraded shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a research note on Thursday, May 8th. Finally, The Goldman Sachs Group lowered shares of Banco Bradesco from a "buy" rating to a "sell" rating and cut their target price for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th. One analyst has rated the stock with a sell rating, one has issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the company presently 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.