Banco Bradesco S.A. (NYSE:BBD) Raises Dividend to $0.07 Per Share

Banco Bradesco S.A. (NYSE:BBD) announced a — dividend on Friday, June 7th, Wall Street Journal reports. Investors of record on Thursday, June 20th will be paid a dividend of 0.0749 per share by the bank on Monday, February 10th. This represents a dividend yield of 6.9%. The ex-dividend date of this dividend is Thursday, June 20th. This is a boost from Banco Bradesco’s previous — dividend of $0.00381.

Banco Bradesco has increased its dividend by an average of 27.1% annually over the last three years. Banco Bradesco has a payout ratio of 8.9% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.48 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 8.3%.

Banco Bradesco Stock Performance

NYSE BBD opened at $2.42 on Tuesday. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.54. The company has a market capitalization of $25.74 billion, a P/E ratio of 10.50, a P/E/G ratio of 0.26 and a beta of 0.99. Banco Bradesco has a 12-month low of $2.35 and a 12-month high of $3.68. The firm has a 50-day moving average price of $2.60 and a two-hundred day moving average price of $2.91.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings data on Thursday, May 2nd. The bank reported $0.08 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.01. The firm had revenue of $9.64 billion during the quarter. Banco Bradesco had a net margin of 6.70% and a return on equity of 9.55%. Analysts anticipate that Banco Bradesco will post 0.34 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 price target for the company in a report on Tuesday, February 20th.

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.