Short Interest in Banco Bradesco S.A. (NYSE:BBD) Expands By 127.8%

Banco Bradesco S.A. (NYSE:BBD) was the target of a large growth in short interest in the month of December. As of December 15th, there was short interest totalling 84,850,000 shares, a growth of 127.8% from the November 30th total of 37,250,000 shares. Based on an average daily volume of 33,540,000 shares, the days-to-cover ratio is presently 2.5 days.

Banco Bradesco Stock Down 0.5 %

Shares of BBD stock opened at $1.92 on Friday. The company’s fifty day simple moving average is $2.27 and its two-hundred day simple moving average is $2.45. Banco Bradesco has a 52 week low of $1.84 and a 52 week high of $3.56. The stock has a market cap of $20.43 billion, a P/E ratio of 7.38, a PEG ratio of 0.32 and a beta of 0.94. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.36.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Thursday, October 31st. The bank reported $0.10 EPS for the quarter, topping analysts’ consensus estimates of $0.09 by $0.01. Banco Bradesco had a return on equity of 10.17% and a net margin of 7.43%. The company had revenue of $9.18 billion for the quarter, compared to the consensus estimate of $5.62 billion. Analysts predict that Banco Bradesco will post 0.33 EPS for the current fiscal year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a — dividend, which will be paid on Monday, August 11th. Stockholders of record on Friday, January 3rd will be issued a dividend of $0.0362 per share. The ex-dividend date is Friday, January 3rd. This represents a dividend yield of 6.2%. Banco Bradesco’s dividend payout ratio (DPR) is 11.54%.

Analyst Ratings Changes

Separately, JPMorgan Chase & Co. cut shares of Banco Bradesco from an “overweight” rating to a “neutral” rating in a research report on Monday, November 25th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Insigneo Advisory Services LLC raised its stake in Banco Bradesco by 23.9% during the third quarter. Insigneo Advisory Services LLC now owns 22,120 shares of the bank’s stock valued at $59,000 after purchasing an additional 4,260 shares in the last quarter. Inspire Advisors LLC increased its holdings in shares of Banco Bradesco by 9.5% in the 2nd quarter. Inspire Advisors LLC now owns 54,720 shares of the bank’s stock worth $123,000 after buying an additional 4,737 shares during the last quarter. Blue Trust Inc. raised its position in shares of Banco Bradesco by 99.9% during the 3rd quarter. Blue Trust Inc. now owns 11,254 shares of the bank’s stock valued at $30,000 after buying an additional 5,623 shares in the last quarter. Daiwa Securities Group Inc. lifted its holdings in shares of Banco Bradesco by 1.1% in the 2nd quarter. Daiwa Securities Group Inc. now owns 716,345 shares of the bank’s stock valued at $1,605,000 after acquiring an additional 8,000 shares during the last quarter. Finally, Atria Investments Inc grew its position in Banco Bradesco by 24.3% in the third quarter. Atria Investments Inc now owns 44,151 shares of the bank’s stock worth $117,000 after acquiring an additional 8,641 shares in the last quarter.

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.