Banco Bradesco SA (NYSE:BBDO) Sees Large Increase in Short Interest

Banco Bradesco SA (NYSE:BBDO) was the target of a large increase in short interest during the month of July. As of July 15th, there was short interest totaling 3,141 shares, an increase of 119.5% from the June 30th total of 1,431 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 74,861 shares, the days-to-cover ratio is currently 0.0 days.

Banco Bradesco Stock Up 1.2%

Shares of NYSE BBDO traded up $0.04 during mid-day trading on Tuesday, reaching $3.29. 345,449 shares of the company’s stock traded hands, compared to its average volume of 76,046. The stock has a market cap of $34.86 billion, a P/E ratio of 8.42 and a beta of 0.56. Banco Bradesco has a 1-year low of $2.37 and a 1-year high of $3.80. The business has a 50-day simple moving average of $3.06 and a 200 day simple moving average of $3.28. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16.

Banco Bradesco (NYSE:BBDO) last released its quarterly earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%. The company had revenue of $13.07 billion for the quarter.

Banco Bradesco Cuts Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Investors of record on Wednesday, August 5th will be given a dividend of $0.0034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 5.13%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the business. SmartHarvest Portfolios LLC raised its stake in shares of Banco Bradesco by 21.2% during the 1st quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank’s stock worth $54,000 after purchasing an additional 2,863 shares during the period. Intergy Private Wealth LLC grew its position in Banco Bradesco by 31.4% during the first quarter. Intergy Private Wealth LLC now owns 13,920 shares of the bank’s stock valued at $46,000 after buying an additional 3,323 shares during the period. Cetera Investment Advisers purchased a new stake in Banco Bradesco during the fourth quarter worth about $32,000. Renaissance Technologies LLC bought a new stake in Banco Bradesco in the fourth quarter worth about $34,000. Finally, SBI Securities Co. Ltd. raised its position in Banco Bradesco by 974.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank’s stock worth $40,000 after acquiring an additional 12,604 shares during the period.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a report on Thursday, May 28th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus 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.