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

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) announced a dividend on Saturday, May 31st, investing.com reports. Shareholders 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 dividend 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 remained flat at $2.96 during trading on Wednesday. 28,290,544 shares of the company's stock traded hands, compared to its average volume of 35,156,513. Banco Bradesco has a twelve month low of $1.84 and a twelve month high of $3.02. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The stock has a market cap of $31.50 billion, a PE ratio of 9.87, a price-to-earnings-growth ratio of 0.32 and a beta of 0.71. The firm's 50 day moving average price is $2.46 and its 200 day moving average price is $2.21.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its earnings results on Wednesday, May 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts' consensus estimates of $0.09. The business had revenue of $5.69 billion for the quarter, compared to analyst estimates of $31.24 billion. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, sell-side analysts predict that Banco Bradesco will post 0.37 EPS for the current year.

Institutional Investors Weigh In On Banco Bradesco

Several large investors have recently modified their holdings of the business. Jones Financial Companies Lllp increased its holdings in Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank's stock valued at $86,000 after buying an additional 37,610 shares during the period. Millennium Management LLC boosted its stake in Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank's stock valued at $15,240,000 after acquiring an additional 1,510,481 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its holdings 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 worth $73,885,000 after purchasing an additional 17,853,712 shares during the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on BBD shares. Bank of America upgraded shares of Banco Bradesco from a "neutral" rating to a "buy" rating in a report on Thursday, May 8th. Citigroup raised shares of Banco Bradesco from a "hold" rating to a "buy" rating in a research note on Wednesday, May 28th. Finally, The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and dropped their price objective for the stock from $2.40 to $2.00 in a research note on Wednesday, February 12th. One investment 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 MarketBeat.com, the company presently has a consensus 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.