Short Interest in Banco Bradesco SA (NYSE:BBDO) Expands By 32.9%

Banco Bradesco SA (NYSE:BBDO) saw a significant growth in short interest in January. As of January 15th, there was short interest totaling 118,858 shares, a growth of 32.9% from the December 31st total of 89,450 shares. Based on an average trading volume of 67,709 shares, the days-to-cover ratio is currently 1.8 days. Based on an average trading volume of 67,709 shares, the days-to-cover ratio is currently 1.8 days.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently modified their holdings of the business. SBI Securities Co. Ltd. grew its position in shares of Banco Bradesco by 974.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank’s stock valued at $40,000 after buying an additional 12,604 shares during the last quarter. Ritholtz Wealth Management acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $206,000. Intergy Private Wealth LLC acquired a new position in Banco Bradesco in the fourth quarter valued at approximately $30,000. Ascent Group LLC bought a new position in shares of Banco Bradesco during the fourth quarter valued at approximately $112,000. Finally, Kathmere Capital Management LLC raised its position in shares of Banco Bradesco by 82.8% during the 4th quarter. Kathmere Capital Management LLC now owns 196,166 shares of the bank’s stock worth $563,000 after purchasing an additional 88,859 shares during the period.

Wall Street Analysts Forecast Growth

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

Banco Bradesco Stock Up 0.4%

Shares of BBDO traded up $0.02 during midday trading on Tuesday, hitting $3.67. The company had a trading volume of 188,809 shares, compared to its average volume of 61,014. The stock has a market cap of $38.10 billion, a price-to-earnings ratio of 10.47 and a beta of 0.57. The company’s 50 day moving average price is $3.09 and its 200 day moving average price is $2.89. The company has a quick ratio of 1.12, a current ratio of 1.12 and a debt-to-equity ratio of 0.64. Banco Bradesco has a 52 week low of $1.80 and a 52 week high of $3.71.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be issued a dividend of $0.0032 per share. The ex-dividend date of this dividend is Wednesday, February 4th. This represents a c) dividend on an annualized basis and a yield of 1.0%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is 5.71%.

About Banco Bradesco

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.