Banco Bradesco SA (NYSE:BBDO) Sees Large Growth in Short Interest

Banco Bradesco SA (NYSE:BBDO) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 153,328 shares, an increase of 4,781.5% from the July 15th total of 3,141 shares. Approximately 0.0% of the shares of the company are short sold. Based on an average daily trading volume, of 111,498 shares, the days-to-cover ratio is currently 1.4 days.

Banco Bradesco Stock Performance

BBDO traded down $0.14 on Tuesday, hitting $3.04. The company’s stock had a trading volume of 70,791 shares, compared to its average volume of 77,433. The company’s 50 day simple moving average is $3.08 and its 200-day simple moving average is $3.29. The firm has a market cap of $32.21 billion, a P/E ratio of 7.24 and a beta of 0.55. Banco Bradesco has a 12 month low of $2.45 and a 12 month high of $3.80. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93.

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be given a dividend of $0.0034 per share. The ex-dividend date is Wednesday, August 5th. This represents a c) annualized dividend and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio is currently 7.14%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, August 3rd. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Hold”.

Hedge Funds Weigh In On Banco Bradesco

Hedge funds have recently made changes to their positions in the stock. O Shaughnessy Asset Management LLC raised its stake in shares of Banco Bradesco by 79.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank’s stock valued at $8,803,000 after purchasing an additional 1,360,089 shares during the period. SBI Securities Co. Ltd. grew its holdings in Banco Bradesco by 974.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank’s stock valued at $40,000 after buying an additional 12,604 shares in the last quarter. D Orazio & Associates Inc. increased its position in shares of Banco Bradesco by 25.2% during the fourth quarter. D Orazio & Associates Inc. now owns 114,496 shares of the bank’s stock valued at $329,000 after buying an additional 23,068 shares during the period. Ritholtz Wealth Management purchased a new stake in shares of Banco Bradesco in the fourth quarter worth about $206,000. Finally, Renaissance Technologies LLC purchased a new stake in shares of Banco Bradesco in the fourth quarter worth about $34,000.

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.