Banco Bradesco SA (NYSE:BBD) Short Interest Update

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. Based on an average daily volume of 38,411,127 shares, the short-interest ratio is currently 0.5 days. Currently, 0.2% of the shares of the stock are short sold.

Institutional Trading of Banco Bradesco

Hedge funds have recently made changes to their positions in the business. Inspire Investing LLC grew its position in Banco Bradesco by 11.4% in the fourth quarter. Inspire Investing LLC now owns 25,331 shares of the bank’s stock worth $84,000 after acquiring an additional 2,597 shares in the last quarter. Compound Planning Inc. increased its stake in Banco Bradesco by 2.1% during the first quarter. Compound Planning Inc. now owns 158,680 shares of the bank’s stock worth $579,000 after acquiring an additional 3,247 shares during the last quarter. Corient Private Wealth LLC raised its position in Banco Bradesco by 8.8% during the second quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after purchasing an additional 3,402 shares during the period. Cetera Investment Advisers raised its position in Banco Bradesco by 16.7% during the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank’s stock valued at $90,000 after purchasing an additional 3,519 shares during the period. Finally, GAMMA Investing LLC lifted its stake in shares of Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after purchasing an additional 3,619 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a report on Friday, July 10th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Banco Bradesco Price Performance

Shares of NYSE BBD traded down $0.01 during midday trading on Friday, reaching $3.54. 34,594,297 shares of the stock traded hands, compared to its average volume of 36,906,746. The company’s 50 day moving average is $3.48 and its 200 day moving average is $3.69. Banco Bradesco has a one year low of $2.73 and a one year high of $4.30. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $37.57 billion, a PE ratio of 9.09, a P/E/G ratio of 0.45 and a beta of 0.53.

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

Banco Bradesco Cuts Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 9th. Shareholders of record on Wednesday, August 5th will be paid a $0.0037 dividend. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco’s dividend payout ratio (DPR) is presently 20.51%.

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.