Banco Bradesco S.A. (NYSE:BBD) Increases Dividend to $0.00 Per Share

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) declared a monthly dividend on Tuesday, March 18th, Wall Street Journal reports. Investors of record on Thursday, April 3rd will be paid a dividend of 0.0033 per share by the bank on Friday, May 9th. This represents a $0.04 dividend on an annualized basis and a yield of 1.80%. The ex-dividend date is Thursday, April 3rd. This is a 1.6% increase from Banco Bradesco's previous monthly dividend of $0.003277.

Banco Bradesco has a dividend payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.43 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 9.3%.

Banco Bradesco Trading Down 0.2 %

BBD stock traded down $0.01 during mid-day trading on Monday, reaching $2.23. 25,526,451 shares of the stock traded hands, compared to its average volume of 29,847,804. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $2.98. The stock's fifty day moving average is $2.06 and its 200-day moving average is $2.27. The company has a market cap of $23.68 billion, a P/E ratio of 7.42, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a current ratio of 1.01, a quick ratio of 0.72 and a debt-to-equity ratio of 2.48.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, meeting the consensus estimate of $0.09. Banco Bradesco had a net margin of 8.46% and a return on equity of 11.43%. As a group, sell-side analysts expect that Banco Bradesco will post 0.37 earnings per share for the current year.

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Analyst Upgrades and Downgrades

Several research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research note on Monday, November 25th. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target on the stock in a research note on Monday, January 13th. Finally, The Goldman Sachs Group cut Banco Bradesco from a "buy" rating to a "sell" rating and reduced their price objective for the company from $2.40 to $2.00 in a research report on Wednesday, February 12th.

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.