Banco Bradesco S.A. (NYSE:BBD) Short Interest Up 16.6% in June

Banco Bradesco S.A. (NYSE:BBD) saw a large growth in short interest in the month of June. As of June 15th, there was short interest totalling 56,740,000 shares, a growth of 16.6% from the May 31st total of 48,650,000 shares. Based on an average daily volume of 16,490,000 shares, the short-interest ratio is presently 3.4 days.

Banco Bradesco Trading Down 0.9 %

NYSE BBD opened at $2.18 on Wednesday. The stock has a 50-day simple moving average of $2.51 and a two-hundred day simple moving average of $2.84. The company has a current ratio of 0.77, a quick ratio of 0.77 and a debt-to-equity ratio of 0.54. Banco Bradesco has a fifty-two week low of $2.16 and a fifty-two week high of $3.65.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, May 2nd. The bank reported $0.08 earnings per share for the quarter, beating the consensus estimate of $0.07 by $0.01. Banco Bradesco had a return on equity of 9.55% and a net margin of 6.70%. The company had revenue of $9.64 billion during the quarter. As a group, equities research analysts forecast that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, August 8th. Investors of record on Wednesday, July 3rd will be issued a dividend of $0.0035 per share. This represents a $0.04 dividend on an annualized basis and a yield of 1.94%. The ex-dividend date of this dividend is Wednesday, July 3rd. Banco Bradesco’s dividend payout ratio (DPR) is presently 52.18%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of the company. Fisher Asset Management LLC raised its holdings in Banco Bradesco by 77.2% in the 4th quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock worth $242,441,000 after purchasing an additional 30,188,950 shares during the period. Wellington Management Group LLP raised its stake in shares of Banco Bradesco by 14.1% during the 4th quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock worth $211,783,000 after buying an additional 7,478,762 shares during the period. Oaktree Capital Management LP grew its stake in Banco Bradesco by 8.2% in the 4th quarter. Oaktree Capital Management LP now owns 34,330,544 shares of the bank’s stock valued at $120,157,000 after acquiring an additional 2,588,418 shares during the period. Massachusetts Financial Services Co. MA grew its stake in Banco Bradesco by 51.1% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 32,204,249 shares of the bank’s stock valued at $112,715,000 after acquiring an additional 10,885,211 shares during the period. Finally, Russell Investments Group Ltd. increased its holdings in Banco Bradesco by 8.9% in the 1st quarter. Russell Investments Group Ltd. now owns 26,441,672 shares of the bank’s stock worth $75,623,000 after acquiring an additional 2,166,229 shares in the last quarter.

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.