Short Interest in Banco Bradesco S.A. (NYSE:BBD) Increases By 35.8%

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a significant increase in short interest during the month of January. As of January 15th, there was short interest totalling 115,210,000 shares, an increase of 35.8% from the December 31st total of 84,850,000 shares. Based on an average daily volume of 32,950,000 shares, the short-interest ratio is presently 3.5 days.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on BBD shares. The Goldman Sachs Group lowered their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating on the stock in a report on Friday, January 10th. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 target price on the stock in a research note on Monday, January 13th. Finally, JPMorgan Chase & Co. cut Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently added to or reduced their stakes in the stock. Vontobel Holding Ltd. boosted its stake in Banco Bradesco by 9.4% during the 4th quarter. Vontobel Holding Ltd. now owns 2,925,569 shares of the bank’s stock worth $5,588,000 after purchasing an additional 251,998 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. raised its position in shares of Banco Bradesco by 15.8% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 268,358 shares of the bank’s stock valued at $510,000 after buying an additional 36,542 shares during the period. ARGA Investment Management LP raised its position in Banco Bradesco by 215.1% in the fourth quarter. ARGA Investment Management LP now owns 82,839,944 shares of the bank’s stock valued at $158,224,000 after purchasing an additional 56,552,808 shares during the period. DAVENPORT & Co LLC acquired a new position in Banco Bradesco in the fourth quarter valued at about $66,000. Finally, First Affirmative Financial Network lifted its holdings in shares of Banco Bradesco by 82.8% in the 4th quarter. First Affirmative Financial Network now owns 45,257 shares of the bank’s stock worth $86,000 after acquiring an additional 20,495 shares during the last quarter.

Banco Bradesco Stock Down 0.7 %

BBD stock opened at $2.01 on Thursday. The firm’s fifty day moving average is $2.02 and its 200 day moving average is $2.39. The firm has a market cap of $21.34 billion, a PE ratio of 7.71, a P/E/G ratio of 0.24 and a beta of 0.94. Banco Bradesco has a one year low of $1.84 and a one year high of $3.36. 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 (NYSE:BBD) last announced its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 earnings per share for the quarter, beating the consensus estimate of $0.09 by $0.01. The firm had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. On average, research analysts forecast that Banco Bradesco will post 0.33 EPS for the current year.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be issued a $0.0031 dividend. This represents a $0.04 annualized dividend and a yield of 1.86%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s payout ratio is presently 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.