Banco Bradesco SA Plans Monthly Dividend of $0.00 (NYSE:BBD)

Banco Bradesco SA (NYSE:BBD) announced a monthly dividend on Tuesday, June 16th. Shareholders of record on Monday, July 6th will be paid a dividend of 0.0038 per share by the bank on Thursday, August 13th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Monday, July 6th.

Banco Bradesco has raised its dividend payment by an average of 0.2%per year over the last three years. Banco Bradesco has a dividend payout ratio of 4.9% 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 $0.02 annual dividend with an expected future payout ratio of 3.5%.

Banco Bradesco Stock Down 1.0%

NYSE:BBD traded down $0.04 during mid-day trading on Wednesday, hitting $3.43. The company had a trading volume of 41,604,858 shares, compared to its average volume of 36,971,965. Banco Bradesco has a 1 year low of $2.73 and a 1 year high of $4.30. The firm has a market capitalization of $36.29 billion, a price-to-earnings ratio of 8.78, a PEG ratio of 0.43 and a beta of 0.53. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. The business has a fifty day simple moving average of $3.69 and a 200-day simple moving average of $3.69.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 EPS for the quarter. The business had revenue of $1.50 billion during the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%. Equities analysts forecast that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of BBD. Orbis Allan Gray Ltd bought a new stake in shares of Banco Bradesco in the second quarter valued at approximately $250,398,000. Franklin Resources Inc. grew its holdings in shares of Banco Bradesco by 2,469.2% during the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock valued at $159,664,000 after purchasing an additional 46,080,856 shares during the last quarter. Bank of America Corp DE increased its stake in Banco Bradesco by 355.9% in the 1st quarter. Bank of America Corp DE now owns 28,078,599 shares of the bank’s stock worth $102,487,000 after purchasing an additional 21,920,074 shares during the period. Goldman Sachs Group Inc. boosted its holdings in shares of Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after purchasing an additional 17,853,712 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Banco Bradesco by 25.9% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock valued at $273,604,000 after purchasing an additional 16,908,425 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.