Short Interest in Banco Bradesco SA (NYSE:BBD) Decreases By 60.1%

Banco Bradesco SA (NYSE:BBD) was the recipient of a large decrease in short interest in the month of February. As of February 13th, there was short interest totaling 14,241,732 shares, a decrease of 60.1% from the January 29th total of 35,707,686 shares. Based on an average trading volume of 47,669,515 shares, the days-to-cover ratio is currently 0.3 days. Based on an average trading volume of 47,669,515 shares, the days-to-cover ratio is currently 0.3 days.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently modified their holdings of BBD. EverSource Wealth Advisors LLC raised its holdings in Banco Bradesco by 100.5% during the second quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after buying an additional 4,353 shares during the last quarter. Brooklyn Investment Group increased its position in shares of Banco Bradesco by 1,276.5% during the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock worth $36,000 after acquiring an additional 9,842 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of Banco Bradesco in the 4th quarter worth about $39,000. Ballentine Partners LLC bought a new position in Banco Bradesco in the 4th quarter valued at about $41,000. Finally, GAMMA Investing LLC lifted its position in Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after acquiring an additional 3,619 shares in the last quarter.

Banco Bradesco Price Performance

Shares of BBD traded up $0.03 during trading hours on Friday, hitting $4.08. 47,048,670 shares of the stock were exchanged, compared to its average volume of 40,696,055. Banco Bradesco has a fifty-two week low of $1.93 and a fifty-two week high of $4.28. The company has a current ratio of 1.45, a quick ratio of 1.12 and a debt-to-equity ratio of 2.68. The business has a 50-day moving average of $3.75 and a 200-day moving average of $3.46.

Banco Bradesco (NYSE:BBD) last released its earnings results on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The business had revenue of $6.54 billion for the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. Equities analysts anticipate that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be given a dividend of $0.0036 per share. This represents a c) annualized dividend and a dividend yield of 1.1%. The ex-dividend date is Wednesday, March 4th. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 7.69%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a report on Friday. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Four investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, Banco Bradesco currently has an average rating of “Buy”.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.