Banco Bradesco SA (NYSE:BBD) Sees Large Increase in Short Interest

Banco Bradesco SA (NYSE:BBD) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 41,838,178 shares, an increase of 245.3% from the February 26th total of 12,115,099 shares. Currently, 0.4% of the company’s shares are short sold. Based on an average daily trading volume, of 56,817,058 shares, the short-interest ratio is currently 0.7 days. Based on an average daily trading volume, of 56,817,058 shares, the short-interest ratio is currently 0.7 days. Currently, 0.4% of the company’s shares are short sold.

Banco Bradesco Stock Down 1.3%

BBD opened at $3.55 on Wednesday. Banco Bradesco has a 1-year low of $1.98 and a 1-year high of $4.28. The company has a quick ratio of 1.12, a current ratio of 1.45 and a debt-to-equity ratio of 2.68. The company has a fifty day moving average price of $3.87 and a two-hundred day moving average price of $3.55.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings data on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.11. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. The company had revenue of $6.54 billion for the quarter, compared to analysts’ expectations of $6.68 billion. Analysts expect that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Thursday, May 14th. Stockholders of record on Monday, April 6th will be issued a dividend of $0.0037 per share. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Monday, April 6th. Banco Bradesco’s dividend payout ratio is presently 7.69%.

Analyst Ratings Changes

A number of analysts have weighed in on BBD shares. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research report on Monday, December 29th. Four analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company has an average rating of “Buy”.

Hedge Funds Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of BBD. Orbis Allan Gray Ltd bought a new stake in Banco Bradesco during the 2nd quarter valued at $250,398,000. Franklin Resources Inc. lifted its stake in shares of Banco Bradesco by 2,469.2% in the fourth quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock valued at $159,664,000 after buying an additional 46,080,856 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 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 buying an additional 17,853,712 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its holdings in shares of Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock valued at $273,604,000 after buying an additional 16,908,425 shares during the last quarter. Finally, Marshall Wace LLP increased its position in shares of Banco Bradesco by 103.9% during the third quarter. Marshall Wace LLP now owns 32,045,389 shares of the bank’s stock worth $108,313,000 after acquiring an additional 16,331,155 shares in the last quarter.

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.