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

Banco Bradesco S.A. (NYSE:BBD) declared a dividend on Wednesday, October 2nd, investing.com reports. Stockholders of record on Friday, October 4th will be given a dividend of 0.0026 per share by the bank on Friday, November 8th. This represents a dividend yield of 1.12%. 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 Up 3.9 %

BBD stock traded up $0.10 on Wednesday, reaching $2.77. The company’s stock had a trading volume of 30,229,814 shares, compared to its average volume of 20,816,270. The firm has a market cap of $29.52 billion, a PE ratio of 12.04, a PEG ratio of 0.29 and a beta of 0.97. The business has a fifty day simple moving average of $2.67 and a two-hundred day simple moving average of $2.59. Banco Bradesco has a 12-month low of $2.16 and a 12-month high of $3.65. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.76 and a current ratio of 0.76.

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

Analysts Set New Price Targets

Separately, The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the stock from $2.50 to $3.20 in a research 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.