Banco Bradesco S.A. (NYSE:BBD) Sees Large Drop in Short Interest

by · The Cerbat Gem

Banco Bradesco S.A. (NYSE:BBD – Get Free Report) was the target of a large decline in short interest during the month of August. As of August 31st, there was short interest totalling 28,410,000 shares, a decline of 16.7% from the August 15th total of 34,100,000 shares. Based on an average daily trading volume, of 22,650,000 shares, the days-to-cover ratio is currently 1.3 days.

Banco Bradesco Stock Performance

BBD traded down $0.03 during midday trading on Wednesday, reaching $2.77. The company’s stock had a trading volume of 40,557,638 shares, compared to its average volume of 19,493,365. Banco Bradesco has a twelve month low of $2.16 and a twelve month high of $3.65. The stock has a market cap of $29.52 billion, a P/E ratio of 12.04, a PEG ratio of 0.31 and a beta of 0.98. The company has a fifty day simple moving average of $2.59 and a 200 day simple moving average of $2.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.62.

Banco Bradesco (NYSE:BBD – Get Free Report) last released its earnings results on Monday, August 5th. The bank reported $0.09 EPS for the quarter, beating the consensus estimate of $0.08 by $0.01. The firm had revenue of $9.64 billion during the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. Research analysts expect that Banco Bradesco will post 0.35 earnings per share for the current year.

Banco Bradesco Announces Dividend

The business also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be issued a $0.0035 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.50%. Banco Bradesco’s payout ratio is presently 13.04%.

Institutional Trading of Banco Bradesco

Institutional investors have recently bought and sold shares of the stock. Inspire Investing LLC acquired a new position in Banco Bradesco during the first quarter worth $29,000. Aigen Investment Management LP acquired a new stake in shares of Banco Bradesco in the 4th quarter valued at $43,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco in the 2nd quarter worth about $43,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter worth about $46,000. Finally, Mayport LLC bought a new position in Banco Bradesco during the 2nd quarter valued at about $47,000.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $3.20 in a research note on Monday, August 19th.

Read Our Latest Research Report on Banco Bradesco

About Banco Bradesco

(Get Free Report)

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.

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