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

Banco Bradesco S.A. (NYSE:BBD) declared a dividend on Tuesday, October 1st, investing.com reports. Shareholders of record on Friday, October 4th will be paid a dividend of 0.0026 per share by the bank on Friday, November 8th. This represents a yield of 1.17%. The ex-dividend date is Thursday, October 3rd.

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 $0.47 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 8.5%.

Banco Bradesco Trading Down 1.7 %

Shares of BBD opened at $2.67 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco has a 1-year low of $2.16 and a 1-year high of $3.65. The stock has a market cap of $28.40 billion, a price-to-earnings ratio of 11.59, a price-to-earnings-growth ratio of 0.29 and a beta of 0.98. The firm has a 50 day simple moving average of $2.65 and a 200-day simple moving average of $2.59.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.08 by $0.01. Banco Bradesco had a return on equity of 9.88% and a net margin of 6.68%. The company had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Equities analysts forecast that Banco Bradesco will post 0.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

About Banco Bradesco

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.