5 Best Dividend Stocks Under $5

3. Banco Bradesco S.A. (NYSE:BBD)

Share Price as of October 27: $3.50

Banco Bradesco S.A. (NYSE:BBD) is a Brazilian financial services company that is one of the largest banking institutions in the country. The company pays monthly dividends to its shareholders. On September 1, it declared a 6.3% growth in its monthly dividend to $0.0034 per share. The stock has a dividend yield of 3.39%, as recorded on October 27.

In the second quarter of 2022, Banco Bradesco S.A. (NYSE:BBD) remained committed to shareholder return. The company paid R$1.1 billion to shareholders in monthly dividends and also returned R$3.7 billion in supplementary dividends. The company’s operating cash flow for the quarter came in at R$28 billion.

In September, Goldman Sachs raised its price target on Banco Bradesco S.A. (NYSE:BBD) to $5.40 and maintained a Buy rating on the shares. The firm sees a good risk/return in Brazilian banks due to ongoing industry trends. The firm also mentioned that Brazil has shown better-than-expected GDP growth.

At the end of June 2022, 14 hedge funds tracked by Insider Monkey owned stakes in Banco Bradesco S.A. (NYSE:BBD), compared with 17 in the previous quarter. These stakes have a collective value of over $155.5 million. Fisher Asset Management was the company’s largest stakeholder in Q2.