Banco Bradesco S.A. (NYSE:BBD) Plans Dividend Increase – $0.04 Per Share

Banco Bradesco S.A. (NYSE:BBD) declared a monthly dividend on Monday, March 24th, Wall Street Journal reports. Investors 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 yield of 21.44%. The ex-dividend date 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% meaning its dividend is sufficiently covered by earnings. Equities research 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 trading hours on Monday, hitting $2.23. 25,526,451 shares of the stock traded hands, compared to its average volume of 29,847,804. Banco Bradesco has a 1 year low of $1.84 and a 1 year high of $2.98. The stock has a market capitalization of $23.68 billion, a price-to-earnings ratio of 7.42, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The firm’s 50 day moving average price is $2.06 and its 200-day moving average price is $2.27.

Banco Bradesco (NYSE:BBD) last posted its quarterly 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 8.46% and a return on equity of 11.43%. As a group, equities analysts expect that Banco Bradesco will post 0.37 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have weighed in on BBD shares. The Goldman Sachs Group lowered 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 note on Wednesday, February 12th. JPMorgan Chase & Co. downgraded Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. Finally, HSBC raised shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price for the company in a 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.