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

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 160,250,000 shares, an increase of 38.3% from the January 15th total of 115,910,000 shares. Based on an average daily volume of 40,510,000 shares, the days-to-cover ratio is presently 4.0 days.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently added to or reduced their stakes in BBD. Blue Trust Inc. grew its position in Banco Bradesco by 99.9% during the third quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock worth $30,000 after buying an additional 5,623 shares in the last quarter. R Squared Ltd acquired a new stake in Banco Bradesco during the fourth quarter worth approximately $30,000. Traveka Wealth LLC acquired a new stake in Banco Bradesco during the fourth quarter worth approximately $31,000. Peapack Gladstone Financial Corp grew its position in Banco Bradesco by 54.5% during the fourth quarter. Peapack Gladstone Financial Corp now owns 17,012 shares of the bank’s stock worth $32,000 after buying an additional 6,000 shares in the last quarter. Finally, Townsquare Capital LLC acquired a new stake in Banco Bradesco during the third quarter worth approximately $37,000.

Analyst Upgrades and Downgrades

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

Banco Bradesco Stock Performance

Shares of NYSE BBD traded up $0.08 during trading hours on Friday, reaching $2.17. 34,866,896 shares of the stock were exchanged, compared to its average volume of 49,203,180. The firm has a market capitalization of $23.04 billion, a price-to-earnings ratio of 8.33, a P/E/G ratio of 0.28 and a beta of 0.94. The company has a debt-to-equity ratio of 0.36, a quick ratio of 0.72 and a current ratio of 0.72. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $2.98. The stock’s fifty day simple moving average is $2.00 and its 200 day simple moving average is $2.37.

Banco Bradesco (NYSE:BBD) last announced its 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 10.17% and a net margin of 7.43%. Sell-side analysts predict that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, April 11th. Investors of record on Friday, March 7th will be given 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 yield of 1.82%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is currently 11.54%.

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.