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

Banco Bradesco S.A. (NYSE:BBD) was the recipient of a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 115,210,000 shares, a growth of 35.8% from the December 31st total of 84,850,000 shares. Based on an average trading volume of 32,950,000 shares, the short-interest ratio is presently 3.5 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BBD. Dimensional Fund Advisors LP boosted its position in Banco Bradesco by 15.3% in the second quarter. Dimensional Fund Advisors LP now owns 1,969,714 shares of the bank’s stock worth $4,415,000 after purchasing an additional 262,005 shares during the last quarter. Thrivent Financial for Lutherans raised its stake in shares of Banco Bradesco by 13.2% during the 2nd quarter. Thrivent Financial for Lutherans now owns 247,769 shares of the bank’s stock worth $555,000 after purchasing an additional 28,922 shares during the period. Millennium Management LLC boosted its holdings in shares of Banco Bradesco by 44.9% in the 2nd quarter. Millennium Management LLC now owns 7,629,716 shares of the bank’s stock worth $17,091,000 after buying an additional 2,364,963 shares during the last quarter. Scientech Research LLC bought a new position in Banco Bradesco during the second quarter valued at about $186,000. Finally, Point72 Asset Management L.P. increased its holdings in Banco Bradesco by 117.5% during the second quarter. Point72 Asset Management L.P. now owns 471,200 shares of the bank’s stock worth $1,055,000 after buying an additional 254,600 shares during the last quarter.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock opened at $2.12 on Friday. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.36. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36. The business has a 50 day moving average price of $2.01 and a 200-day moving average price of $2.38. The company has a market cap of $22.51 billion, a PE ratio of 8.13, a price-to-earnings-growth ratio of 0.25 and a beta of 0.94.

Banco Bradesco (NYSE:BBD) last released its quarterly earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, beating analysts’ consensus estimates of $0.09 by $0.01. The business had revenue of $9.18 billion during the quarter, compared to analyst estimates of $5.62 billion. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. Equities analysts anticipate that Banco Bradesco will post 0.33 earnings per share for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, March 12th. Investors of record on Wednesday, February 5th will be given a dividend of $0.0031 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Wednesday, February 5th. Banco Bradesco’s payout ratio is currently 11.54%.

Wall Street Analysts Forecast Growth

BBD has been the subject of several recent research reports. HSBC upgraded Banco Bradesco from a “hold” rating to a “buy” rating and set a $2.80 price objective for the company in a report on Monday, January 13th. The Goldman Sachs Group decreased their price target on shares of Banco Bradesco from $3.20 to $2.30 and set a “buy” rating for the company in a research note on Friday, January 10th. Finally, JPMorgan Chase & Co. lowered shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research note on Monday, November 25th.

About Banco Bradesco

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.