Banco Bradesco SA (NYSE:BBD – Get Rating) announced a monthly dividend on Friday, May 13th, Wall Street Journal reports. Investors of record on Friday, June 3rd will be paid a dividend of 0.0037 per share by the bank on Friday, July 8th. This represents a $0.04 dividend on an annual basis and a yield of 1.17%. The ex-dividend date of this dividend is Thursday, June 2nd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00272727272727273.
Banco Bradesco has a payout ratio of 8.5% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Banco Bradesco to earn $0.57 per share next year, which means the company should continue to be able to cover its $0.05 annual dividend with an expected future payout ratio of 8.8%.
BBD traded up $0.10 on Friday, reaching $3.77. The company had a trading volume of 3,293,204 shares, compared to its average volume of 34,904,936. Banco Bradesco has a 1 year low of $2.95 and a 1 year high of $5.18. The stock has a market capitalization of $40.31 billion, a PE ratio of 9.35, a P/E/G ratio of 0.42 and a beta of 0.92. The company has a quick ratio of 1.44, a current ratio of 1.56 and a debt-to-equity ratio of 1.51. The stock has a 50-day moving average price of $3.88 and a 200-day moving average price of $3.57.
Banco Bradesco (NYSE:BBD – Get Rating) last announced its quarterly earnings results on Tuesday, February 8th. The bank reported $0.11 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.11. Banco Bradesco had a net margin of 19.74% and a return on equity of 17.91%. The firm had revenue of $6.21 billion during the quarter, compared to analysts’ expectations of $5.08 billion. As a group, analysts expect that Banco Bradesco will post 0.52 earnings per share for the current fiscal year.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC purchased a new position in Banco Bradesco during the fourth quarter worth about $41,000. Prudential Financial Inc. acquired a new position in Banco Bradesco during the first quarter worth about $57,000. Silvercrest Asset Management Group LLC grew its position in Banco Bradesco by 30.3% during the fourth quarter. Silvercrest Asset Management Group LLC now owns 26,914 shares of the bank’s stock worth $92,000 after buying an additional 6,255 shares during the period. Invesco Ltd. its position in Banco Bradesco grew by 32.3% during the second quarter. Invesco Ltd. Now owns 35,634 shares of the bank’s stock shares worth $183,000 after buying an additional 8,709 during the period. Finally, Advisor Group Holdings Inc. its position in Banco Bradesco grew by 15.3% during the first quarter. Advisor Group Holdings Inc. Now owns 47,036 shares of the bank’s stock worth $325,000 after buying an additional 6,254 during the period. 2.25% of the stock is owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on the stock. Barclays assumed coverage on shares of Banco Bradesco in a report on Monday, January 24th. They issued an “overweight” rating and a $4.55 target price for the company. Zacks Investment Research cut shares of Banco Bradesco from a “buy” rating to a “hold” rating in a report on Tuesday, May 3rd.
About Banco Bradesco (Get Rating)
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 segment, 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; debit and business cards; financial and security services; consortium products; auto, personal accident, dental, travel, and life insurance; investment products; pension products; real estate and vehicle auctions; cash management, and foreign trade and exchange services; capitalization bonds; and internet banking services.
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