Short Interest in Banco Bradesco SA (NYSE:BBDO) Declines By 37.1%

Banco Bradesco SA (NYSE:BBDO) was the target of a significant decline in short interest in December. As of December 31st, there was short interest totaling 89,450 shares, a decline of 37.1% from the December 15th total of 142,158 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 34,749 shares, the days-to-cover ratio is currently 2.6 days. Based on an average daily volume of 34,749 shares, the days-to-cover ratio is currently 2.6 days. Currently, 0.0% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy”.

Banco Bradesco Stock Up 0.2%

BBDO stock traded up $0.01 during trading on Friday, reaching $3.04. 14,100 shares of the stock were exchanged, compared to its average volume of 47,081. The firm’s 50 day moving average is $3.03 and its 200 day moving average is $2.82. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. Banco Bradesco has a twelve month low of $1.80 and a twelve month high of $3.31.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, March 9th. Investors of record on Wednesday, February 4th will be given a $0.0032 dividend. This represents a c) annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, February 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is 5.71%.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in BBDO. Ritholtz Wealth Management acquired a new position in shares of Banco Bradesco during the second quarter valued at about $30,000. Farther Finance Advisors LLC lifted its position in Banco Bradesco by 5,542.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after acquiring an additional 10,974 shares in the last quarter. Compound Planning Inc. acquired a new position in Banco Bradesco during the 3rd quarter valued at about $35,000. Savant Capital LLC bought a new stake in Banco Bradesco during the 2nd quarter worth approximately $51,000. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of Banco Bradesco in the third quarter worth approximately $72,000.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil’s largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank’s operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.