Short Interest in Banco Bradesco S.A. (NYSE:BBD) Decreases By 16.7%

Banco Bradesco S.A. (NYSE:BBD) saw a large decline in short interest in the month of August. As of August 31st, there was short interest totalling 28,410,000 shares, a decline of 16.7% from the August 15th total of 34,100,000 shares. Based on an average daily volume of 22,650,000 shares, the days-to-cover ratio is presently 1.3 days.

Institutional Trading of Banco Bradesco

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BBD. Fisher Asset Management LLC increased its stake in Banco Bradesco by 77.2% in the fourth quarter. Fisher Asset Management LLC now owns 69,268,813 shares of the bank’s stock valued at $242,441,000 after acquiring an additional 30,188,950 shares during the period. Doma Perpetual Capital Management LLC boosted its position in Banco Bradesco by 403.4% in the second quarter. Doma Perpetual Capital Management LLC now owns 11,203,738 shares of the bank’s stock valued at $25,096,000 after buying an additional 8,978,150 shares in the last quarter. Marshall Wace LLP boosted its position in Banco Bradesco by 6,437.5% in the second quarter. Marshall Wace LLP now owns 7,904,153 shares of the bank’s stock valued at $17,705,000 after buying an additional 7,783,248 shares in the last quarter. Wellington Management Group LLP boosted its position in Banco Bradesco by 14.1% in the fourth quarter. Wellington Management Group LLP now owns 60,509,379 shares of the bank’s stock valued at $211,783,000 after buying an additional 7,478,762 shares in the last quarter. Finally, Itau Unibanco Holding S.A. boosted its position in Banco Bradesco by 17.5% in the second quarter. Itau Unibanco Holding S.A. now owns 23,989,150 shares of the bank’s stock valued at $51,963,000 after buying an additional 3,577,428 shares in the last quarter.

Analyst Ratings Changes

Separately, The Goldman Sachs Group upgraded shares of Banco Bradesco from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $2.50 to $3.20 in a report on Monday, August 19th.

Banco Bradesco Stock Performance

NYSE BBD opened at $2.80 on Monday. The stock has a market cap of $29.84 billion, a P/E ratio of 12.17, a PEG ratio of 0.31 and a beta of 0.98. The company’s 50-day simple moving average is $2.57 and its 200 day simple moving average is $2.60. Banco Bradesco has a twelve month low of $2.16 and a twelve month high of $3.65. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 0.62.

Banco Bradesco (NYSE:BBD) last posted its earnings results on Monday, August 5th. The bank reported $0.09 earnings per share for the quarter, beating analysts’ consensus estimates of $0.08 by $0.01. The business had revenue of $9.64 billion for the quarter, compared to analysts’ expectations of $5.47 billion. Banco Bradesco had a net margin of 6.68% and a return on equity of 9.88%. As a group, research analysts forecast that Banco Bradesco will post 0.35 earnings per share for the current fiscal year.

Banco Bradesco Announces Dividend

The firm also recently announced a monthly dividend, which will be paid on Tuesday, October 8th. Investors of record on Wednesday, September 4th will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $0.04 dividend on an annualized basis and a yield of 1.49%. Banco Bradesco’s payout ratio is currently 13.04%.

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.