Banco Bradesco S.A. (NYSE:BBD) Sees Significant Growth in Short Interest

Banco Bradesco S.A. (NYSE:BBD) was the target of a large increase in short interest during the month of October. As of October 15th, there was short interest totalling 24,280,000 shares, an increase of 54.0% from the September 30th total of 15,770,000 shares. Based on an average trading volume of 29,810,000 shares, the short-interest ratio is currently 0.8 days.

Wall Street Analyst Weigh In

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

Institutional Trading of Banco Bradesco

A number of hedge funds have recently modified their holdings of the company. Inspire Investing LLC acquired a new stake in shares of Banco Bradesco during the first quarter worth about $29,000. Blue Trust Inc. boosted its holdings in shares of Banco Bradesco by 99.9% in the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares during the period. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco during the second quarter worth $43,000. Eagle Bay Advisors LLC boosted its stake in Banco Bradesco by 110.5% in the 3rd quarter. Eagle Bay Advisors LLC now owns 20,000 shares of the bank’s stock worth $54,000 after purchasing an additional 10,500 shares during the period. Finally, Mayport LLC bought a new position in Banco Bradesco during the 2nd quarter worth about $47,000.

Banco Bradesco Trading Down 2.3 %

Shares of NYSE BBD traded down $0.06 during mid-day trading on Friday, hitting $2.58. The company’s stock had a trading volume of 27,982,112 shares, compared to its average volume of 21,588,004. Banco Bradesco has a one year low of $2.16 and a one year high of $3.65. The company’s fifty day simple moving average is $2.73 and its 200-day simple moving average is $2.57. The company has a debt-to-equity ratio of 0.62, a current ratio of 0.76 and a quick ratio of 0.76. The stock has a market cap of $27.50 billion, a price-to-earnings ratio of 11.22, a price-to-earnings-growth ratio of 0.30 and a beta of 0.97.

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

Banco Bradesco Cuts Dividend

The business also recently announced a monthly dividend, which will be paid on Thursday, December 12th. Stockholders of record on Tuesday, November 5th will be given a dividend of $0.002 per share. The ex-dividend date of this dividend is Tuesday, November 5th. This represents a $0.02 annualized dividend and a dividend yield of 0.93%. Banco Bradesco’s payout ratio is currently 13.04%.

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.