Banco Bradesco S.A. (NYSE:BBD) Short Interest Update

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totalling 28,410,000 shares, a decline of 16.7% from the August 15th total of 34,100,000 shares. Based on an average daily volume of 22,650,000 shares, the days-to-cover ratio is currently 1.3 days.

Wall Street Analysts Forecast Growth

Separately, The Goldman Sachs Group upgraded Banco Bradesco from a “neutral” rating to a “buy” rating and increased their target price for the company from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Trading Down 1.1 %

NYSE BBD traded down $0.03 during mid-day trading on Wednesday, hitting $2.77. The company’s stock had a trading volume of 40,557,638 shares, compared to its average volume of 19,493,365. The stock’s fifty day simple moving average is $2.59 and its two-hundred day simple moving average is $2.60. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. Banco Bradesco has a 52-week low of $2.16 and a 52-week high of $3.65. The firm has a market capitalization of $29.52 billion, a P/E ratio of 12.04, a price-to-earnings-growth ratio of 0.31 and a beta of 0.98.

Banco Bradesco (NYSE:BBD) last released its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.01. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. The company had revenue of $9.64 billion during the quarter, compared to the consensus estimate of $5.47 billion. Research analysts expect that Banco Bradesco will post 0.35 EPS for the current year.

Banco Bradesco Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Tuesday, October 8th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.0035 per share. This represents a $0.04 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Wednesday, September 4th. Banco Bradesco’s dividend payout ratio (DPR) is 13.04%.

Institutional Investors Weigh In On Banco Bradesco

A number of hedge funds have recently made changes to their positions in the business. Inspire Investing LLC acquired a new stake in Banco Bradesco during the first quarter valued at approximately $29,000. Aigen Investment Management LP acquired a new position in Banco Bradesco in the 4th quarter valued at approximately $43,000. Insigneo Advisory Services LLC purchased a new stake in Banco Bradesco in the 2nd quarter worth approximately $43,000. Vanguard Personalized Indexing Management LLC acquired a new stake in shares of Banco Bradesco during the 4th quarter valued at $46,000. Finally, Mayport LLC purchased a new position in shares of Banco Bradesco during the 2nd quarter valued at $47,000.

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.