Short Interest in Banco Bradesco S.A. (NYSE:BBDO) Drops By 26.9%

Banco Bradesco S.A. (NYSE:BBDO) was the recipient of a large drop in short interest in March. As of March 15th, there was short interest totalling 139,200 shares, a drop of 26.9% from the February 28th total of 190,500 shares. Based on an average daily trading volume, of 63,700 shares, the short-interest ratio is currently 2.2 days. Currently, 0.0% of the shares of the stock are sold short.

Institutional Trading of Banco Bradesco

A number of institutional investors have recently made changes to their positions in BBDO. Northern Trust Corp grew its position in shares of Banco Bradesco by 8.9% in the fourth quarter. Northern Trust Corp now owns 117,991 shares of the bank’s stock valued at $211,000 after purchasing an additional 9,627 shares in the last quarter. O Shaughnessy Asset Management LLC raised its stake in Banco Bradesco by 402.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 41,349 shares of the bank’s stock worth $74,000 after purchasing an additional 33,126 shares during the period. Finally, HUB Investment Partners LLC acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $25,000.

Banco Bradesco Price Performance

Banco Bradesco stock traded up $0.03 during trading on Tuesday, reaching $2.11. The company had a trading volume of 54,423 shares, compared to its average volume of 37,377. The firm has a market capitalization of $22.45 billion, a PE ratio of 7.03 and a beta of 1.04. The firm’s 50-day simple moving average is $1.96 and its 200 day simple moving average is $2.04. The company has a debt-to-equity ratio of 2.48, a quick ratio of 0.72 and a current ratio of 1.01. Banco Bradesco has a 1-year low of $1.71 and a 1-year high of $2.67.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, November 7th. Shareholders of record on Wednesday, April 2nd will be issued a dividend of $0.0361 per share. The ex-dividend date of this dividend is Wednesday, April 2nd. This represents a $0.43 dividend on an annualized basis and a dividend yield of 20.55%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is presently 96.67%.

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.