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

Key Points

• Banco Bradesco raised its monthly dividend by 1.8% to $0.0038 per share, payable December 11 to shareholders of record on November 5. The annualized dividend is approximately $0.05 per share, yielding 1.1%.
• The dividend appears financially supported, with a current payout ratio of 48.8%; analysts expect a 37.0% future payout ratio based on projected earnings of $0.54 per share next year.
• Shares recently traded at $4.16, below their 52-week high of $4.58 but above the $2.98 low. The bank reported quarterly EPS of $0.12, revenue of $6.77 billion, a 14.61% return on equity and a 10.55% net margin.

Banco Bradesco SA (NYSE:BBD - Get Free Report) declared a monthly dividend on Tuesday, October 13th. Investors of record on Thursday, November 5th will be given a dividend of $0.0038 per share by the bank on Friday, December 11th. This represents a $0.05 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date of this dividend is Thursday, November 5th. This is a 1.8% increase from Banco Bradesco's previous monthly dividend of $0.0037.

Banco Bradesco has increased its dividend by an average of 0.2% annually over the last three years. Banco Bradesco has a payout ratio of 48.8% indicating that its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Bradesco to earn $0.54 per share next year, which means the company should continue to be able to cover its $0.20 annual dividend with an expected future payout ratio of 37.0%.

Banco Bradesco Stock Performance

BBD traded down $0.04 on Wednesday, reaching $4.16. The company had a trading volume of 26,947,065 shares, compared to its average volume of 35,910,859. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco has a 1 year low of $2.98 and a 1 year high of $4.58. The stock has a market capitalization of $44.03 billion, a PE ratio of 9.92, a P/E/G ratio of 0.66 and a beta of 0.46. The stock has a 50-day moving average price of $3.50 and a 200-day moving average price of $3.58.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings data on Tuesday, June 30th. The bank reported $0.12 earnings per share (EPS) for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. The company had revenue of $6.77 billion for the quarter. As a group, research analysts forecast that Banco Bradesco will post 0.50 EPS for the current fiscal year.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently made changes to their positions in BBD. Global Wealth Strategies & Associates purchased a new position in Banco Bradesco during the second quarter worth about $38,000. Wayfinding Financial LLC acquired a new stake in Banco Bradesco in the second quarter valued at about $40,000. Diversify Wealth Management LLC acquired a new stake in Banco Bradesco in the first quarter valued at about $43,000. Modern Wealth Management LLC purchased a new stake in Banco Bradesco in the 1st quarter valued at approximately $55,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in Banco Bradesco by 62.1% in the 1st quarter. EverSource Wealth Advisors LLC now owns 15,858 shares of the bank's stock valued at $58,000 after purchasing an additional 6,074 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA is a Brazilian financial services company headquartered in Osasco, São Paulo. Through its banking operations, the company serves individuals, businesses, corporate clients and public-sector entities across Brazil.

Bradesco offers a broad range of products and services, including checking and savings accounts, loans, credit cards, mortgages, investment and wealth-management products, payment solutions, foreign-exchange services and investment banking. Its operations also include insurance, pension plans and capitalization products through affiliated businesses.

Founded in 1943 in Marília, São Paulo, Bradesco has developed an extensive distribution network of branches, automated banking facilities and digital channels.

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