Banco Bradesco S.A. (NYSE:BBD) Short Interest Update

Banco Bradesco S.A. (NYSE:BBD) was the target of a large increase in short interest during the month of December. As of December 15th, there was short interest totalling 84,850,000 shares, an increase of 127.8% from the November 30th total of 37,250,000 shares. Based on an average daily trading volume, of 33,540,000 shares, the days-to-cover ratio is currently 2.5 days.

Banco Bradesco Stock Down 0.5 %

BBD stock opened at $1.92 on Friday. The business’s 50-day moving average is $2.27 and its two-hundred day moving average is $2.45. The company has a market cap of $20.43 billion, a price-to-earnings ratio of 7.38, a P/E/G ratio of 0.32 and a beta of 0.94. Banco Bradesco has a fifty-two week low of $1.84 and a fifty-two week high of $3.56. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. As a group, analysts forecast that Banco Bradesco will post 0.33 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The business also recently disclosed a — dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, January 3rd will be given a dividend of $0.0362 per share. The ex-dividend date is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco’s payout ratio is currently 11.54%.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Insigneo Advisory Services LLC lifted its holdings in Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock valued at $59,000 after purchasing an additional 4,260 shares in the last quarter. Inspire Advisors LLC lifted its stake in shares of Banco Bradesco by 9.5% during the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock valued at $123,000 after buying an additional 4,737 shares in the last quarter. Blue Trust Inc. lifted its stake in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares in the last quarter. Daiwa Securities Group Inc. boosted its holdings in Banco Bradesco by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock worth $1,605,000 after buying an additional 8,000 shares during the period. Finally, Atria Investments Inc increased its stake in Banco Bradesco by 24.3% in the 3rd quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after buying an additional 8,641 shares in the last quarter.

Wall Street Analysts Forecast Growth

Separately, JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th.

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.