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

Banco Bradesco SA (NYSE:BBDO) was the recipient of a large growth in short interest during the month of February. As of February 27th, there was short interest totaling 175,844 shares, a growth of 126.6% from the February 12th total of 77,594 shares. Based on an average daily trading volume, of 56,076 shares, the short-interest ratio is currently 3.1 days. Based on an average daily trading volume, of 56,076 shares, the short-interest ratio is currently 3.1 days.

Banco Bradesco Trading Down 1.5%

BBDO stock opened at $3.39 on Thursday. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.45. Banco Bradesco has a 12-month low of $1.81 and a 12-month high of $3.77. The company’s fifty day simple moving average is $3.39 and its 200 day simple moving average is $3.08.

Banco Bradesco (NYSE:BBDO) last posted its quarterly earnings data on Friday, February 6th. The bank reported $0.11 earnings per share for the quarter. The firm had revenue of $12.03 billion during the quarter. Banco Bradesco had a return on equity of 13.78% and a net margin of 9.85%.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, April 8th. Shareholders of record on Wednesday, March 4th will be issued a $0.0033 dividend. The ex-dividend date is Wednesday, March 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.2%. Banco Bradesco’s dividend payout ratio is presently 5.13%.

Hedge Funds Weigh In On Banco Bradesco

A number of institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. increased its stake in shares of Banco Bradesco by 659,843.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank’s stock valued at $138,816,000 after acquiring an additional 47,370,132 shares in the last quarter. O Shaughnessy Asset Management LLC increased its stake in Banco Bradesco by 79.7% in the fourth 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 in the last quarter. Goldman Sachs Group Inc. increased its stake in Banco Bradesco by 54.2% in the first quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after purchasing an additional 181,299 shares in the last quarter. Kathmere Capital Management LLC raised its holdings in shares of Banco Bradesco by 82.8% during the fourth quarter. Kathmere Capital Management LLC now owns 196,166 shares of the bank’s stock valued at $563,000 after purchasing an additional 88,859 shares during the period. Finally, Caprock Group LLC bought a new position in shares of Banco Bradesco during the 3rd quarter worth about $410,000.

Analyst Upgrades and Downgrades

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

Banco Bradesco Company Profile

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.