Banco Bradesco SA (NYSE:BBDO) Stock Short Interest Falls 55.1%

Banco Bradesco SA (NYSE:BBDO) was the recipient of a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 77,922 shares, a drop of 55.1% from the August 31st total of 173,362 shares. Based on an average daily volume of 66,308 shares, the short-interest ratio is currently 1.2 days. Approximately 0.0% of the company’s shares are short sold.

Banco Bradesco Stock Performance

BBDO stock traded up $0.05 during midday trading on Wednesday, hitting $3.11. 38,724 shares of the company traded hands, compared to its average volume of 76,462. The stock has a market capitalization of $33.00 billion, a price-to-earnings ratio of 7.41 and a beta of 0.54. Banco Bradesco has a twelve month low of $2.65 and a twelve month high of $3.80. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. The business has a 50 day simple moving average of $3.15 and a 200-day simple moving average of $3.18.

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Tuesday, November 10th. Investors of record on Monday, October 5th will be given a dividend of $0.0034 per share. The ex-dividend date of this dividend is Monday, October 5th. This represents a $0.04 annualized dividend and a dividend yield of 1.3%. This is a drop from Banco Bradesco’s previous monthly dividend of $0.0518. Banco Bradesco’s payout ratio is presently 4.76%.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded Banco Bradesco from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 3rd. One analyst has rated the stock with a Hold rating, According to MarketBeat, the company presently has a consensus rating of “Hold”.

Institutional Trading of Banco Bradesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. QRG Capital Management Inc. boosted its position in shares of Banco Bradesco by 49.2% in the second quarter. QRG Capital Management Inc. now owns 21,423 shares of the bank’s stock valued at $64,000 after acquiring an additional 7,068 shares during the period. Ameritas Advisory Services LLC bought a new position in Banco Bradesco during the second quarter worth $33,000. Royal Bank of Canada raised its stake in Banco Bradesco by 307.2% during the 1st quarter. Royal Bank of Canada now owns 20,121 shares of the bank’s stock valued at $67,000 after purchasing an additional 15,180 shares during the last quarter. Renaissance Technologies LLC boosted its holdings in Banco Bradesco by 198.9% in the 1st quarter. Renaissance Technologies LLC now owns 34,999 shares of the bank’s stock valued at $115,000 after purchasing an additional 23,289 shares during the period. Finally, Cetera Investment Advisers boosted its holdings in Banco Bradesco by 160.5% in the 1st quarter. Cetera Investment Advisers now owns 29,490 shares of the bank’s stock valued at $97,000 after purchasing an additional 18,168 shares during the period.

Banco Bradesco Company Profile

Banco Bradesco SA is a Brazilian financial services company that provides banking and related products to individuals, businesses and institutional clients. Its services include checking and savings accounts, consumer and commercial lending, credit and debit cards, payment services, foreign exchange, investment products and wealth management.

Through its operating businesses, Bradesco also provides insurance, pension and capitalization products, as well as investment banking and asset management services.