Banco Bradesco S.A. (NYSE:BBD – Get Free Report) was the recipient of a significant 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 volume of 22,650,000 shares, the days-to-cover ratio is currently 1.3 days.
Wall Street Analysts Forecast Growth
Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th.
Get Our Latest Stock Analysis on Banco Bradesco
Banco Bradesco Trading Down 1.1 %
Banco Bradesco (NYSE:BBD – Get Free Report) last released its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The company had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Research analysts expect that Banco Bradesco will post 0.35 EPS for the current year.
Banco Bradesco Announces Dividend
The company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.
Institutional Investors Weigh In On Banco Bradesco
A number of hedge funds have recently made changes to their positions in the business. Inspire Investing LLC acquired a new stake in Banco Bradesco during the first quarter valued at approximately $29,000. Aigen Investment Management LP acquired a new position in Banco Bradesco in the 4th quarter valued at approximately $43,000. Insigneo Advisory Services LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter valued at $46,000. Finally, Mayport LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at $47,000.
About Banco Bradesco
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.
Featured Articles
- Five stocks we like better than Banco Bradesco
- 3 Healthcare Dividend Stocks to Buy
- How Much Can You Make in Stocks in One Month?
- The How and Why of Investing in Gold Stocks
- This Is the Top Large-Cap Stock Insiders Are Buying
- Investing in the High PE Growth Stocks
- Capitalize on Micron’s 24% Drop—Wall Street Eyes Major Upside
Receive News & Ratings for Banco Bradesco Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Banco Bradesco and related companies with MarketBeat.com's FREE daily email newsletter.