Banco Bradesco S.A. (NYSE:BBD) to Issue $0.00 Monthly Dividend

Banco Bradesco S.A. (NYSE:BBD - Get Free Report) announced a monthly dividend on Wednesday, January 8th,Wall Street Journal reports. Stockholders of record on Wednesday, February 5th will be given a dividend of 0.0031 per share by the bank on Wednesday, March 12th. This represents a $0.04 annualized dividend and a dividend yield of 1.98%. The ex-dividend date of this dividend is Wednesday, February 5th.

Banco Bradesco has a payout ratio of 9.8% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect Banco Bradesco to earn $0.40 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 10.0%.

Banco Bradesco Stock Performance

NYSE BBD traded down $0.03 on Friday, hitting $1.88. 59,822,484 shares of the company traded hands, compared to its average volume of 52,757,727. The business's 50 day moving average price is $2.12 and its 200-day moving average price is $2.41. Banco Bradesco has a 52-week low of $1.84 and a 52-week high of $3.36. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $20.01 billion, a price-to-earnings ratio of 7.23, a P/E/G ratio of 0.32 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.09 by $0.01. The firm had revenue of $9.18 billion for the quarter, compared to analysts' expectations of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Equities analysts expect that Banco Bradesco will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on BBD shares. JPMorgan Chase & Co. lowered shares of Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th. The Goldman Sachs Group dropped their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a "buy" rating for the company in a report on Friday.

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.