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

Banco Bradesco SA (NYSE:BBD) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totalling 17,520,000 shares, a decrease of 39.1% from the December 31st total of 28,780,000 shares. Based on an average trading volume of 13,040,000 shares, the days-to-cover ratio is currently 1.3 days. Currently, 0.4% of the shares of the stock are sold short.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Fisher Asset Management LLC lifted its holdings in Banco Bradesco by 22.0% in the third quarter. Fisher Asset Management LLC now owns 50,585,477 shares of the bank’s stock worth $411,766,000 after buying an additional 9,136,438 shares during the period. Vanguard Group Inc. grew its stake in Banco Bradesco by 12.9% in the 2nd quarter. Vanguard Group Inc. now owns 42,632,672 shares of the bank’s stock valued at $418,653,000 after acquiring an additional 4,875,984 shares during the last quarter. BlackRock Inc. grew its stake in Banco Bradesco by 11.5% in the 2nd quarter. BlackRock Inc. now owns 33,765,301 shares of the bank’s stock valued at $331,576,000 after acquiring an additional 3,490,926 shares during the last quarter. Price T Rowe Associates Inc. MD grew its stake in Banco Bradesco by 10.3% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 18,242,904 shares of the bank’s stock valued at $179,145,000 after acquiring an additional 1,702,204 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its holdings in Banco Bradesco by 17.2% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 12,353,709 shares of the bank’s stock valued at $100,558,000 after purchasing an additional 1,812,914 shares in the last quarter. Institutional investors and hedge funds own 2.71% of the company’s stock.

Shares of Banco Bradesco stock traded down $0.19 during trading on Monday, reaching $7.97. 5,783,459 shares of the stock were exchanged, compared to its average volume of 13,115,967. Banco Bradesco has a 1 year low of $7.53 and a 1 year high of $10.55. The stock’s fifty day moving average is $8.58 and its 200 day moving average is $8.53. The firm has a market cap of $65.54 billion, a price-to-earnings ratio of 10.97, a price-to-earnings-growth ratio of 0.85 and a beta of 0.80.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Wednesday, October 30th. The bank reported $0.20 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.19 by $0.01. Banco Bradesco had a net margin of 16.84% and a return on equity of 19.01%. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $6.52 billion. On average, analysts predict that Banco Bradesco will post 0.75 earnings per share for the current year.

The business also recently disclosed a — dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 5th will be issued a $0.0047 dividend. The ex-dividend date is Tuesday, February 4th. This represents a yield of 2.4%. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.04%.

A number of research analysts have recently issued reports on the company. ValuEngine raised Banco Bradesco from a “strong sell” rating to a “sell” rating in a research note on Friday, November 1st. Bank of America cut Banco Bradesco from a “buy” rating to a “neutral” rating in a research note on Tuesday, January 21st. UBS Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating in a report on Thursday, November 21st. Finally, Zacks Investment Research lowered shares of Banco Bradesco from a “hold” rating to a “strong sell” rating in a report on Wednesday, January 22nd. Four equities research analysts have rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Banco Bradesco currently has a consensus rating of “Hold” and an average target price of $10.29.

Banco Bradesco Company Profile

Banco Bradesco SA, together with its subsidiaries, provides banking and financial products and services to individuals, corporates, and businesses in Brazil and internationally. It operates through two segments, Banking and Insurance. The company accepts checking and savings accounts, demand deposits, time deposits, and interbank deposits.

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