Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 27.9%

Banco Bradesco S.A. (NYSE:BBD) saw a large growth in short interest in the month of February. As of February 15th, there was short interest totalling 204,950,000 shares, a growth of 27.9% from the January 31st total of 160,250,000 shares. Based on an average daily volume of 43,050,000 shares, the short-interest ratio is currently 4.8 days.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of BBD. US Bancorp DE increased its position in shares of Banco Bradesco by 13.0% in the third quarter. US Bancorp DE now owns 265,199 shares of the bank’s stock worth $705,000 after acquiring an additional 30,490 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in Banco Bradesco by 33.3% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 2,905,021 shares of the bank’s stock valued at $7,727,000 after purchasing an additional 725,596 shares in the last quarter. Atria Investments Inc lifted its stake in shares of Banco Bradesco by 24.3% during the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after purchasing an additional 8,641 shares in the last quarter. Crossmark Global Holdings Inc. boosted its position in shares of Banco Bradesco by 5.1% in the third quarter. Crossmark Global Holdings Inc. now owns 250,657 shares of the bank’s stock worth $667,000 after buying an additional 12,228 shares during the period. Finally, Catalytic Wealth RIA LLC grew its stake in shares of Banco Bradesco by 34.1% in the third quarter. Catalytic Wealth RIA LLC now owns 46,774 shares of the bank’s stock valued at $124,000 after buying an additional 11,883 shares in the last quarter.

Banco Bradesco Price Performance

Banco Bradesco stock traded up $0.03 during trading hours on Thursday, hitting $2.07. The stock had a trading volume of 54,401,316 shares, compared to its average volume of 28,496,983. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $2.98. The stock has a market capitalization of $21.98 billion, a price-to-earnings ratio of 6.88, a PEG ratio of 0.32 and a beta of 0.94. The stock’s fifty day moving average is $2.01 and its two-hundred day moving average is $2.33. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Friday, February 7th. The bank reported $0.09 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. As a group, analysts predict that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be issued a dividend of $0.0033 per share. The ex-dividend date of this dividend is Friday, March 7th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.90%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s payout ratio is presently 6.67%.

Analyst Ratings Changes

A number of research firms recently weighed in on BBD. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price target on the stock in a research note on Monday, January 13th. JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th. Finally, The Goldman Sachs Group cut shares of Banco Bradesco from a “buy” rating to a “sell” rating and reduced their price objective for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th.

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.