Short Interest in Banco Bradesco S.A. (NYSE:BBD) Increases By 35.8%

Banco Bradesco S.A. (NYSE:BBD) was the target of a significant growth in short interest during the month of December. As of December 31st, there was short interest totalling 115,210,000 shares, a growth of 35.8% from the December 15th total of 84,850,000 shares. Based on an average trading volume of 32,950,000 shares, the short-interest ratio is currently 3.5 days.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors have recently bought and sold shares of the stock. Blue Trust Inc. increased its position in Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares in the last quarter. Traveka Wealth LLC purchased a new stake in Banco Bradesco in the 4th quarter worth approximately $31,000. Townsquare Capital LLC purchased a new stake in Banco Bradesco in the 3rd quarter worth approximately $37,000. Insigneo Advisory Services LLC bought a new stake in Banco Bradesco during the 2nd quarter worth approximately $43,000. Finally, Eagle Bay Advisors LLC lifted its holdings in Banco Bradesco by 110.5% during the third quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock valued at $54,000 after purchasing an additional 10,500 shares in the last quarter.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on BBD shares. HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target for the company in a report on Monday. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a report on Monday, November 25th. Finally, The Goldman Sachs Group decreased their target price on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research note on Friday, January 10th.

Banco Bradesco Stock Up 3.9 %

Shares of Banco Bradesco stock opened at $2.01 on Thursday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a twelve month low of $1.84 and a twelve month high of $3.36. The company has a market cap of $21.34 billion, a price-to-earnings ratio of 7.71, a price-to-earnings-growth ratio of 0.32 and a beta of 0.94. The company’s 50 day moving average is $2.10 and its 200 day moving average is $2.41.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. The firm had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Research analysts anticipate that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.86%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s payout ratio is 7.69%.

Banco Bradesco Company Profile

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.