Banco Bradesco S.A. (NYSE:BBD – Get Free Report) announced a monthly dividend on Tuesday, September 24th, Wall Street Journal reports. Investors of record on Thursday, October 3rd will be paid a dividend of 0.0035 per share by the bank on Friday, November 8th. This represents a $0.04 annualized dividend and a yield of 1.60%. The ex-dividend date of this dividend is Thursday, October 3rd.
Banco Bradesco has a dividend payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. Equities 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 Up 0.8 %
Shares of BBD traded up $0.02 during mid-day trading on Tuesday, reaching $2.59. The stock had a trading volume of 45,225,559 shares, compared to its average volume of 20,034,508. 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 52-week low of $2.16 and a 52-week high of $3.65. The business’s fifty day moving average is $2.61 and its 200 day moving average is $2.60. The firm has a market cap of $27.61 billion, a price-to-earnings ratio of 11.15, a P/E/G ratio of 0.31 and a beta of 0.98.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group raised shares of Banco Bradesco from a “neutral” rating to a “buy” rating and upped their target price for the company from $2.50 to $3.20 in a research report on Monday, August 19th.
Read Our Latest Stock Analysis on BBD
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.
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