Short Interest in Banco Bradesco SA (NYSE:BBD) Rises By 56.0%

Banco Bradesco SA (NYSE:BBD) saw a large growth in short interest in the month of August. As of August 14th, there was short interest totaling 23,197,215 shares, a growth of 56.0% from the July 30th total of 14,870,897 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily volume of 31,795,825 shares, the short-interest ratio is currently 0.7 days.

Banco Bradesco Trading Up 1.5%

Banco Bradesco stock opened at $3.33 on Wednesday. Banco Bradesco has a 52 week low of $2.96 and a 52 week high of $4.30. The company has a debt-to-equity ratio of 2.93, a quick ratio of 1.48 and a current ratio of 1.48. The firm has a market capitalization of $35.29 billion, a PE ratio of 7.93, a PEG ratio of 0.40 and a beta of 0.52. The business’s 50-day simple moving average is $3.41 and its 200-day simple moving average is $3.61.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a net margin of 10.55% and a return on equity of 14.61%. The firm had revenue of $6.77 billion during the quarter. Equities research analysts forecast that Banco Bradesco will post 0.5 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be given a dividend of $0.0037 per share. The ex-dividend date is Thursday, September 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. Banco Bradesco’s dividend payout ratio is presently 7.14%.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Millennium Management LLC raised its position in shares of Banco Bradesco by 28.4% in the 1st quarter. Millennium Management LLC now owns 6,834,192 shares of the bank’s stock valued at $15,240,000 after acquiring an additional 1,510,481 shares during the period. Jones Financial Companies Lllp grew its holdings in Banco Bradesco by 3,749.8% during the first quarter. Jones Financial Companies Lllp now owns 38,613 shares of the bank’s stock valued at $86,000 after purchasing an additional 37,610 shares during the period. Goldman Sachs Group Inc. grew its holdings in Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock valued at $73,885,000 after purchasing an additional 17,853,712 shares during the period. Sivia Capital Partners LLC bought a new stake in Banco Bradesco in the second quarter valued at approximately $62,000. Finally, JPMorgan Chase & Co. increased its stake in Banco Bradesco by 22.0% in the second quarter. JPMorgan Chase & Co. now owns 964,959 shares of the bank’s stock valued at $2,982,000 after purchasing an additional 174,126 shares in the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings lowered Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy”.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.