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 Thursday, February 6th,NASDAQ Dividends reports. Investors of record on Friday, March 7th will be paid a dividend of 0.0033 per share by the bank on Friday, April 11th. This represents a $0.04 dividend on an annualized basis and a yield of 1.81%. The ex-dividend date is Friday, March 7th. This is a positive change from Banco Bradesco's previous monthly dividend of $0.003.

Banco Bradesco has a payout ratio of 9.8% indicating that its dividend is sufficiently covered by earnings. 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 Up 3.1 %

BBD stock traded up $0.07 during midday trading on Tuesday, reaching $2.18. 36,355,889 shares of the company were exchanged, compared to its average volume of 51,607,008. The stock's 50-day simple moving average is $1.99 and its 200 day simple moving average is $2.38. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. The company has a market cap of $23.15 billion, a price-to-earnings ratio of 8.37, a price-to-earnings-growth ratio of 0.28 and a beta of 0.94.

Banco Bradesco (NYSE:BBD - Get Free Report) last announced its earnings results on Friday, February 7th. The bank reported $0.09 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.09. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. On average, equities analysts forecast that Banco Bradesco will post 0.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

BBD has been the subject of a number of recent analyst reports. The Goldman Sachs Group reduced their price objective on shares of Banco Bradesco from $3.20 to $2.30 and set a "buy" rating for the company in a research report on Friday, January 10th. JPMorgan Chase & Co. downgraded Banco Bradesco from an "overweight" rating to a "neutral" rating in a research report on Monday, November 25th. Finally, HSBC upgraded Banco Bradesco from a "hold" rating to a "buy" rating and set a $2.80 price target for the company in a research report on Monday, January 13th.

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.