Banco Bradesco SA (NYSE:BBD) Increases Dividend to $0.00 Per Share

Banco Bradesco SA (NYSE:BBD) declared a monthly dividend on Wednesday, January 14th. Stockholders of record on Wednesday, February 4th will be given a dividend of 0.0035 per share by the bank on Monday, March 9th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, February 4th. This is a 2.7% increase from Banco Bradesco’s previous monthly dividend of $0.003435.

Banco Bradesco has decreased its dividend payment by an average of 0.2%per year over the last three years. Banco Bradesco has a payout ratio of 4.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Banco Bradesco to earn $0.43 per share next year, which means the company should continue to be able to cover its $0.02 annual dividend with an expected future payout ratio of 4.7%.

Banco Bradesco Stock Up 2.0%

NYSE BBD traded up $0.07 during trading on Thursday, hitting $3.52. The stock had a trading volume of 30,946,783 shares, compared to its average volume of 28,554,459. The company has a market capitalization of $37.46 billion, a PE ratio of 10.06, a P/E/G ratio of 0.32 and a beta of 0.54. Banco Bradesco has a 12 month low of $1.92 and a 12 month high of $3.77. The company’s 50-day moving average price is $3.47 and its two-hundred day moving average price is $3.23. The company has a debt-to-equity ratio of 0.64, a quick ratio of 1.12 and a current ratio of 1.12.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 30th. The bank reported $0.09 EPS for the quarter, missing the consensus estimate of $0.11 by ($0.02). The business had revenue of $3.91 billion for the quarter, compared to analyst estimates of $34.75 billion. Banco Bradesco had a return on equity of 12.95% and a net margin of 9.61%. As a group, sell-side analysts forecast that Banco Bradesco will post 0.37 EPS for the current year.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the company. Millennium Management LLC boosted its stake in Banco Bradesco by 28.4% in the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock valued at $15,240,000 after purchasing an additional 1,510,481 shares during the period. Jones Financial Companies Lllp lifted its holdings in shares of Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock worth $86,000 after buying an additional 37,610 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Banco Bradesco by 116.9% in the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after acquiring an additional 17,853,712 shares during the period. Strs Ohio acquired a new position in shares of Banco Bradesco in the first quarter valued at about $1,865,000. Finally, Inspire Investing LLC grew its stake in shares of Banco Bradesco by 121.0% in the first quarter. Inspire Investing LLC now owns 23,919 shares of the bank’s stock valued at $53,000 after acquiring an additional 13,098 shares in the last quarter.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.