Banco Bradesco S.A. Announces Monthly Dividend of $0.00 (NYSE:BBD)

Banco Bradesco S.A. (NYSE:BBD) announced a monthly dividend on Tuesday, April 16th, Wall Street Journal reports. Stockholders of record on Monday, May 6th will be paid a dividend of 0.0036 per share by the bank on Monday, June 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.63%. The ex-dividend date is Friday, May 3rd.

Banco Bradesco has increased its dividend payment by an average of 7.9% annually over the last three years and has raised its dividend annually for the last 2 consecutive years.

Banco Bradesco Stock Performance

Shares of BBD stock opened at $2.66 on Thursday. The company has a 50 day moving average price of $2.81 and a 200-day moving average price of $3.04. Banco Bradesco has a 52 week low of $2.60 and a 52 week high of $3.68. The firm has a market capitalization of $28.30 billion, a PE ratio of 12.64 and a beta of 0.95. The company has a quick ratio of 0.97, a current ratio of 0.97 and a debt-to-equity ratio of 0.84.

Institutional Trading of Banco Bradesco

Several large investors have recently added to or reduced their stakes in BBD. BlackRock Inc. grew its position in Banco Bradesco by 48.4% during the first quarter. BlackRock Inc. now owns 72,108,265 shares of the bank’s stock valued at $188,924,000 after buying an additional 23,517,670 shares during the period. Arrowstreet Capital Limited Partnership purchased a new position in Banco Bradesco during the fourth quarter valued at approximately $23,765,000. Renaissance Technologies LLC lifted its holdings in Banco Bradesco by 465.8% during the second quarter. Renaissance Technologies LLC now owns 3,109,272 shares of the bank’s stock valued at $10,758,000 after purchasing an additional 2,559,777 shares in the last quarter. Wellington Management Group LLP purchased a new position in Banco Bradesco during the first quarter valued at approximately $9,816,000. Finally, Macquarie Group Ltd. lifted its holdings in Banco Bradesco by 7.7% during the first quarter. Macquarie Group Ltd. now owns 24,224,185 shares of the bank’s stock valued at $63,467,000 after purchasing an additional 1,732,700 shares in the last quarter.

Analysts Set New Price Targets

BBD has been the subject of a number of research analyst reports. Jefferies Financial Group lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research note on Friday, February 9th. HSBC lowered shares of Banco Bradesco from a “buy” rating to a “hold” rating in a research report on Monday, January 8th. Finally, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “sell” rating to a “neutral” rating and set a $2.80 target price for the company in a research report on Tuesday, February 20th.

Banco Bradesco Company Profile

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 segments, 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; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.