Banco Bradesco SA (NYSE:BBD) Short Interest Update

Banco Bradesco SA (NYSE:BBD) was the recipient of a large increase in short interest in April. As of April 30th, there was short interest totaling 19,345,899 shares, an increase of 129.8% from the April 15th total of 8,418,523 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 30,546,829 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On Banco Bradesco

Several hedge funds and other institutional investors have recently modified their holdings of the company. Renaissance Technologies LLC lifted its stake in shares of Banco Bradesco by 103.9% in the 1st quarter. Renaissance Technologies LLC now owns 12,315,995 shares of the bank’s stock valued at $44,953,000 after purchasing an additional 6,276,800 shares in the last quarter. Compound Planning Inc. lifted its stake in shares of Banco Bradesco by 2.1% in the 1st quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock valued at $579,000 after purchasing an additional 3,247 shares in the last quarter. Modern Wealth Management LLC acquired a new position in shares of Banco Bradesco in the 1st quarter valued at about $55,000. Moerus Capital Management LLC lifted its stake in shares of Banco Bradesco by 1.3% in the 1st quarter. Moerus Capital Management LLC now owns 8,407,720 shares of the bank’s stock valued at $30,688,000 after purchasing an additional 103,900 shares in the last quarter. Finally, Sei Investments Co. lifted its stake in shares of Banco Bradesco by 3.4% in the 1st quarter. Sei Investments Co. now owns 19,296,977 shares of the bank’s stock valued at $70,434,000 after purchasing an additional 641,744 shares in the last quarter.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research report on Friday, February 27th. Weiss Ratings upgraded Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Three research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of “Buy”.

Banco Bradesco Trading Down 2.7%

NYSE:BBD traded down $0.10 during mid-day trading on Friday, reaching $3.48. The company’s stock had a trading volume of 33,638,510 shares, compared to its average volume of 30,176,076. The company’s fifty day simple moving average is $3.77 and its two-hundred day simple moving average is $3.70. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. Banco Bradesco has a twelve month low of $2.66 and a twelve month high of $4.30. The stock has a market cap of $36.82 billion, a P/E ratio of 8.91, a P/E/G ratio of 0.43 and a beta of 0.56.

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

Banco Bradesco Increases Dividend

The firm also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.0039 dividend. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Wednesday, June 3rd. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio is 7.69%.

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.