Banco Bradesco S.A. (NYSE:BBD) Short Interest Update

Banco Bradesco S.A. (NYSE:BBD) was the target of a large increase in short interest in the month of February. As of February 15th, there was short interest totalling 204,950,000 shares, an increase of 27.9% from the January 31st total of 160,250,000 shares. Based on an average daily volume of 43,050,000 shares, the days-to-cover ratio is presently 4.8 days.

Banco Bradesco Stock Performance

Shares of NYSE:BBD traded up $0.02 during trading on Wednesday, hitting $1.99. The company’s stock had a trading volume of 22,110,396 shares, compared to its average volume of 28,200,643. Banco Bradesco has a 12 month low of $1.84 and a 12 month high of $2.98. The firm has a market cap of $21.12 billion, a price-to-earnings ratio of 6.62, a P/E/G ratio of 0.32 and a beta of 0.94. The company has a debt-to-equity ratio of 2.48, a current ratio of 1.01 and a quick ratio of 0.72. The company has a 50-day moving average of $2.01 and a 200-day moving average of $2.33.

Banco Bradesco (NYSE:BBD) last announced its earnings results on Friday, February 7th. The bank reported $0.09 EPS for the quarter, hitting analysts’ consensus estimates of $0.09. Banco Bradesco had a return on equity of 11.43% and a net margin of 8.46%. On average, sell-side analysts expect that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Friday, April 11th. Stockholders of record on Friday, March 7th will be given a dividend of $0.0033 per share. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.98%. The ex-dividend date is Friday, March 7th. Banco Bradesco’s payout ratio is presently 6.67%.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio bought a new position in shares of Banco Bradesco in the fourth quarter worth approximately $13,097,000. Vident Advisory LLC lifted its stake in shares of Banco Bradesco by 87.3% during the 4th quarter. Vident Advisory LLC now owns 65,112 shares of the bank’s stock valued at $124,000 after buying an additional 30,351 shares in the last quarter. Man Group plc bought a new position in Banco Bradesco in the 4th quarter worth $173,000. Millennium Management LLC increased its stake in Banco Bradesco by 28.9% in the 4th quarter. Millennium Management LLC now owns 5,323,711 shares of the bank’s stock worth $10,168,000 after buying an additional 1,194,063 shares in the last quarter. Finally, Graham Capital Management L.P. increased its stake in Banco Bradesco by 2,638.6% in the 4th quarter. Graham Capital Management L.P. now owns 287,937 shares of the bank’s stock worth $550,000 after buying an additional 277,423 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the stock. The Goldman Sachs Group lowered shares of Banco Bradesco from a “buy” rating to a “sell” rating and cut their target price for the company from $2.40 to $2.00 in a research note on Wednesday, February 12th. JPMorgan Chase & Co. lowered Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th. Finally, HSBC upgraded shares of Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective on the stock in a report on Monday, January 13th.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides various banking products and services to individuals, corporates, and businesses in Brazil and internationally. The company operates through two segments, Banking and Insurance. It provides current, savings, click, and salary accounts; real estate credit, vehicle financing, payroll loans, mortgage loans, microcredit, leasing, and personal and installment credit; overdraft and agribusiness loans; debit and business cards; financial and security services; consortium products; car, personal accident, dental, travel, and life insurance; investment products; pension products; foreign currency exchange services; capitalization bonds; and internet banking services.