Banco Bradesco SA (NYSE:BBD) Short Interest Update

by · The Markets Daily

Banco Bradesco SA (NYSE:BBD – Get Free Report) saw a significant increase in short interest in the month of August. As of August 14th, there was short interest totaling 23,197,215 shares, an increase of 56.0% from the July 30th total of 14,870,897 shares. Based on an average daily trading volume, of 31,795,825 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.2% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One investment analyst has rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy”.

Read Our Latest Stock Analysis on BBD

Banco Bradesco Price Performance

BBD opened at $3.46 on Thursday. The firm has a market capitalization of $36.61 billion, a P/E ratio of 8.23, a PEG ratio of 0.41 and a beta of 0.52. The stock has a fifty day moving average of $3.41 and a 200-day moving average of $3.61. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco has a 12-month low of $2.98 and a 12-month high of $4.30.

Banco Bradesco (NYSE:BBD – Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. The business had revenue of $6.77 billion for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%. Equities analysts forecast that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Thursday, October 8th. Shareholders of record on Thursday, September 3rd will be given a dividend of $0.0037 per share. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Thursday, September 3rd. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 7.14%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC lifted its position in shares of Banco Bradesco by 28.4% in the first quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock worth $15,240,000 after purchasing an additional 1,510,481 shares in the last quarter. Jones Financial Companies Lllp grew its position in Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after purchasing an additional 37,610 shares in the last quarter. Goldman Sachs Group Inc. increased its stake in Banco Bradesco by 116.9% in the 1st quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after buying an additional 17,853,712 shares during the period. Sivia Capital Partners LLC acquired a new position in Banco Bradesco in the 2nd quarter valued at approximately $62,000. Finally, JPMorgan Chase & Co. increased its stake in Banco Bradesco by 22.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank’s stock valued at $2,982,000 after buying an additional 174,126 shares during the period.

About Banco Bradesco

(Get Free Report)

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.

See Also