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

Banco Bradesco SA (NYSE:BBD) was the target of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 18,809,232 shares, a decrease of 47.1% from the June 15th total of 35,571,576 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 38,411,127 shares, the short-interest ratio is currently 0.5 days.

Banco Bradesco Stock Performance

BBD stock traded down $0.01 during mid-day trading on Wednesday, reaching $3.62. 11,023,882 shares of the stock traded hands, compared to its average volume of 36,785,918. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17. The business has a 50-day moving average of $3.49 and a two-hundred day moving average of $3.69. The firm has a market capitalization of $38.31 billion, a PE ratio of 9.27, a P/E/G ratio of 0.45 and a beta of 0.53. Banco Bradesco has a 52 week low of $2.73 and a 52 week high of $4.30.

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

Banco Bradesco Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Monday, February 8th. Stockholders of record on Tuesday, July 7th will be given a $0.067 dividend. This represents a dividend yield of 395.0%. The ex-dividend date of this dividend is Tuesday, July 7th. Banco Bradesco’s dividend payout ratio is currently 20.51%.

Hedge Funds Weigh In On Banco Bradesco

Institutional investors and hedge funds have recently bought and sold shares of the stock. Baillie Gifford & Co. increased its holdings in shares of Banco Bradesco by 36.8% during the 4th 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. Aquamarine Financial Cayman Ltd lifted its stake in shares of Banco Bradesco by 8.1% in the fourth quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock valued at $517,056,000 after buying an additional 11,137,145 shares during the period. JPMorgan Chase & Co. grew its position in Banco Bradesco by 536.8% during the third quarter. JPMorgan Chase & Co. now owns 6,144,997 shares of the bank’s stock worth $20,770,000 after buying an additional 5,180,038 shares in the last quarter. Calamos Advisors LLC bought a new position in Banco Bradesco during the fourth quarter valued at about $1,267,000. Finally, Carrhae Capital LLP bought a new position in Banco Bradesco during the fourth quarter valued at about $53,897,000.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of Banco Bradesco in a report on Friday. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company presently has a consensus rating of “Buy”.

About Banco Bradesco

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.