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

Banco Bradesco SA (NYSE:BBD) was the recipient of a large drop in short interest in the month of April. As of April 15th, there was short interest totaling 8,418,523 shares, a drop of 20.0% from the March 31st total of 10,518,511 shares. Based on an average daily volume of 40,144,841 shares, the days-to-cover ratio is currently 0.2 days. Approximately 0.1% of the company’s stock are short sold.

Analysts Set New Price Targets

BBD has been the topic of several recent research reports. Itau BBA Securities reissued an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco has a consensus rating of “Buy”.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Diversify Wealth Management LLC bought a new position in Banco Bradesco during the first quarter worth about $43,000. Hsbc Holdings PLC grew its holdings in Banco Bradesco by 18.1% during the first quarter. Hsbc Holdings PLC now owns 3,389,610 shares of the bank’s stock worth $12,377,000 after purchasing an additional 519,953 shares during the period. Impact Investors Inc bought a new position in Banco Bradesco during the first quarter worth about $104,000. Acuitas Investments LLC bought a new stake in Banco Bradesco in the 1st quarter valued at $116,000. Finally, QRG Capital Management Inc. lifted its holdings in Banco Bradesco by 208.0% during the 1st quarter. QRG Capital Management Inc. now owns 173,295 shares of the bank’s stock valued at $633,000 after purchasing an additional 117,038 shares during the last quarter.

Banco Bradesco Stock Down 1.2%

Shares of NYSE BBD traded down $0.05 during mid-day trading on Friday, hitting $3.84. The company had a trading volume of 13,681,209 shares, compared to its average volume of 33,944,416. The company has a market capitalization of $40.64 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.51 and a beta of 0.56. The firm has a 50-day simple moving average of $3.84 and a two-hundred day simple moving average of $3.67. The company has a current ratio of 1.14, a quick ratio of 1.14 and a debt-to-equity ratio of 0.97. Banco Bradesco has a one year low of $2.26 and a one year high of $4.30.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Thursday, February 5th. The bank reported $0.11 earnings per share for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $5.52 billion during the quarter, compared to analysts’ expectations of $6.68 billion. Banco Bradesco had a return on equity of 13.78% and a net margin of 10.19%. On average, equities analysts expect that Banco Bradesco will post 0.47 EPS for the current year.

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 8th. Investors of record on Wednesday, May 6th will be issued a dividend of $0.0037 per share. The ex-dividend date is Wednesday, May 6th. 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 yield of 1.2%. Banco Bradesco’s dividend payout ratio is 110.26%.

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.