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

Banco Bradesco SA (NYSE:BBD) declared a monthly dividend on Thursday, March 12th. Shareholders of record on Monday, April 6th will be given a dividend of 0.0037 per share by the bank on Thursday, May 14th. This represents a c) annualized dividend and a yield of 1.2%. The ex-dividend date is Monday, April 6th. This is a 1.8% increase from Banco Bradesco’s previous monthly dividend of $0.003613.

Banco Bradesco has raised 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. 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 Down 2.6%

Shares of NYSE BBD traded down $0.10 during trading hours on Friday, hitting $3.57. 41,931,364 shares of the company’s stock were exchanged, compared to its average volume of 43,638,504. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.45 and a quick ratio of 1.12. The company’s 50-day moving average price is $3.85 and its 200-day moving average price is $3.52. Banco Bradesco has a 1-year low of $1.98 and a 1-year high of $4.28.

Banco Bradesco (NYSE:BBD) last issued its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%.The business had revenue of $6.54 billion during the quarter, compared to analysts’ expectations of $6.68 billion. As a group, research analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently bought and sold shares of the business. EverSource Wealth Advisors LLC grew its position in shares of Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock valued at $27,000 after buying an additional 4,353 shares during the last quarter. Brooklyn Investment Group lifted its holdings in shares of Banco Bradesco by 1,276.5% in the 3rd quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after purchasing an additional 9,842 shares during the last quarter. Checchi Capital Advisers LLC acquired a new position in Banco Bradesco during the 4th quarter valued at approximately $39,000. Ballentine Partners LLC bought a new position in Banco Bradesco during the 4th quarter worth $41,000. Finally, GAMMA Investing LLC increased its position in Banco Bradesco by 40.1% in the fourth quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock worth $42,000 after buying an additional 3,619 shares during the period.

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.