Banco Bradesco SA (NYSE:BBD) Short Interest Update

Banco Bradesco SA (NYSE:BBD) was the recipient of a significant increase in short interest in April. As of April 30th, there was short interest totaling 19,345,899 shares, an increase of 129.8% from the April 15th total of 8,418,523 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average daily trading volume, of 30,546,829 shares, the short-interest ratio is presently 0.6 days.

Institutional Trading of Banco Bradesco

Institutional investors and hedge funds have recently modified their holdings of the business. New York State Common Retirement Fund raised its holdings in shares of Banco Bradesco by 14.6% during the third quarter. New York State Common Retirement Fund now owns 7,526,379 shares of the bank’s stock worth $25,439,000 after purchasing an additional 957,203 shares during the period. Barometer Capital Management Inc. acquired a new stake in shares of Banco Bradesco during the third quarter worth $1,186,000. Baillie Gifford & Co. raised its holdings in shares of Banco Bradesco by 36.8% during the fourth quarter. Baillie Gifford & Co. now owns 38,275,506 shares of the bank’s stock worth $127,457,000 after purchasing an additional 10,301,395 shares during the period. Grantham Mayo Van Otterloo & Co. LLC acquired a new stake in shares of Banco Bradesco during the third quarter worth $12,728,000. Finally, Aquamarine Financial Cayman Ltd raised its holdings in shares of Banco Bradesco by 8.1% during the fourth quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock worth $517,056,000 after purchasing an additional 11,137,145 shares during the period.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BBD. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Itau BBA Securities reaffirmed an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Three analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Banco Bradesco Stock Down 2.7%

BBD traded down $0.10 during trading on Friday, hitting $3.48. The company had a trading volume of 33,638,510 shares, compared to its average volume of 30,176,076. The company has a market cap of $36.82 billion, a PE ratio of 8.91, a P/E/G ratio of 0.43 and a beta of 0.56. The business has a 50-day moving average of $3.77 and a 200-day moving average of $3.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. Banco Bradesco has a 1-year low of $2.66 and a 1-year high of $4.30.

Banco Bradesco (NYSE:BBD) last posted its quarterly earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) for the quarter. The firm had revenue of $1.50 billion for the quarter. Banco Bradesco had a net margin of 9.24% and a return on equity of 14.15%. As a group, analysts forecast that Banco Bradesco will post 0.5 earnings per share for the current year.

Banco Bradesco Increases Dividend

The firm also recently announced a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be issued a dividend of $0.0039 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date of this dividend is Wednesday, June 3rd. Banco Bradesco’s dividend payout ratio is currently 5.13%.

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.