Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 23.5%

Banco Bradesco S.A. (NYSE:BBD) saw a significant increase in short interest in the month of November. As of November 15th, there was short interest totalling 22,170,000 shares, an increase of 23.5% from the October 31st total of 17,950,000 shares. Based on an average daily trading volume, of 30,080,000 shares, the days-to-cover ratio is presently 0.7 days.

Banco Bradesco Stock Down 2.3 %

NYSE BBD traded down $0.05 during mid-day trading on Monday, hitting $2.08. The company’s stock had a trading volume of 41,109,676 shares, compared to its average volume of 22,503,277. The firm has a market capitalization of $22.17 billion, a price-to-earnings ratio of 8.00, a PEG ratio of 0.25 and a beta of 0.97. The company’s 50 day simple moving average is $2.52 and its 200 day simple moving average is $2.52. The company has a current ratio of 0.72, a quick ratio of 0.72 and a debt-to-equity ratio of 0.36. Banco Bradesco has a twelve month low of $2.02 and a twelve month high of $3.65.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Thursday, October 31st. The bank reported $0.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a net margin of 7.43% and a return on equity of 10.17%. The firm had revenue of $9.18 billion during the quarter, compared to analysts’ expectations of $5.62 billion. Analysts anticipate that Banco Bradesco will post 0.34 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Wednesday, December 4th will be paid a $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, December 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 annualized dividend and a dividend yield of 1.91%. Banco Bradesco’s dividend payout ratio is 11.54%.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of BBD. Blue Trust Inc. lifted its position in shares of Banco Bradesco by 99.9% during the 3rd 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. Townsquare Capital LLC purchased a new stake in shares of Banco Bradesco during the 3rd quarter valued at $37,000. Insigneo Advisory Services LLC bought a new stake in shares of Banco Bradesco during the 2nd quarter worth $43,000. Mayport LLC bought a new position in Banco Bradesco during the second quarter valued at about $47,000. Finally, SG Americas Securities LLC bought a new stake in Banco Bradesco in the second quarter worth about $49,000.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on BBD shares. The Goldman Sachs Group raised Banco Bradesco from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $2.50 to $3.20 in a research report on Monday, August 19th. JPMorgan Chase & Co. downgraded shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

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.