Banco Bradesco S.A. (NYSE:BBD) to Issue Monthly Dividend of $0.04

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) declared a monthly dividend on Friday, March 21st, Wall Street Journal reports. Stockholders of record on Wednesday, April 2nd will be paid a dividend of 0.0398 per share by the bank on Friday, November 7th. This represents a $0.48 annualized dividend and a dividend yield of 20.78%. The ex-dividend date of this dividend is Wednesday, April 2nd. This is a 1,093.7% increase from Banco Bradesco's previous monthly dividend of $0.00333.

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 $0.43 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 Stock Performance

Banco Bradesco stock traded down $0.01 during midday trading on Wednesday, hitting $2.30. 12,151,611 shares of the company were exchanged, compared to its average volume of 29,942,460. The business has a fifty day simple moving average of $2.08 and a two-hundred day simple moving average of $2.26. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. The firm has a market capitalization of $24.42 billion, a PE ratio of 7.65, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $2.98.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share 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%. On average, sell-side analysts forecast that Banco Bradesco will post 0.37 earnings per share for the current year.

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Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on BBD shares. HSBC raised shares of Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 target price on the stock in a research note on Monday, January 13th. The Goldman Sachs Group downgraded Banco Bradesco from a "buy" rating to a "sell" rating and lowered their price target for the stock 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.