Banco Bradesco SA (NYSE:BBD) announced a monthly dividend on Friday, May 22nd, Wall Street Journal reports. Shareholders of record on Wednesday, June 3rd will be paid a dividend of 0.0033 per share by the bank on Monday, July 13th. This represents a $0.04 annualized dividend and a yield of 1.19%. The ex-dividend date of this dividend is Tuesday, June 2nd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.003.
Banco Bradesco has decreased its dividend by an average of 53.6% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. Banco Bradesco has a dividend payout ratio of 6.0% meaning its dividend is sufficiently covered by earnings. Analysts expect Banco Bradesco to earn $0.49 per share next year, which means the company should continue to be able to cover its $0.03 annual dividend with an expected future payout ratio of 6.1%.
NYSE BBD traded up $0.04 during trading on Friday, hitting $3.35. The stock had a trading volume of 20,153,930 shares, compared to its average volume of 20,930,518. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.63 and a current ratio of 1.63. The stock has a market capitalization of $27.30 billion, a price-to-earnings ratio of 5.97, a P/E/G ratio of 4.76 and a beta of 1.01. Banco Bradesco has a one year low of $2.68 and a one year high of $9.59. The stock has a 50 day simple moving average of $3.53 and a 200 day simple moving average of $6.53.
Several analysts have recently weighed in on BBD shares. ValuEngine raised shares of Banco Bradesco from a “strong sell” rating to a “sell” rating in a research note on Friday, May 1st. Goldman Sachs Group raised shares of Banco Bradesco from a “sell” rating to a “buy” rating and set a $5.00 price target for the company in a research note on Monday, April 6th. JPMorgan Chase & Co. decreased their price target on shares of Banco Bradesco from $9.50 to $6.50 and set an “overweight” rating for the company in a research note on Friday, March 27th. Finally, Zacks Investment Research raised shares of Banco Bradesco from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 13th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating and four have assigned a buy rating to the company’s stock. Banco Bradesco presently has an average rating of “Hold” and an average target price of $7.50.
Banco Bradesco Company Profile
Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.
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