Banco Bradesco SA (NYSE:BBD) Short Interest Update

Key Points

• Banco Bradesco SA experienced a significant increase in short interest of 72.1% during September, with total short interest reaching 30,490,000 shares by the end of the month.
• Several hedge funds have modified their holdings in the bank, with firms like GAMMA Investing LLC and EverSource Wealth Advisors LLC increasing their stakes by over 90%.
• The company declared a $0.0035 monthly dividend with a yield of 1.2%, set to be paid on December 8th, reflecting a payout ratio of 8.57%.

Banco Bradesco SA (NYSE:BBD - Get Free Report) was the target of a significant increase in short interest during the month of September. As of September 30th, there was short interest totaling 30,490,000 shares, an increase of 72.1% from the September 15th total of 17,720,000 shares. Based on an average trading volume of 40,570,000 shares, the short-interest ratio is presently 0.8 days. Based on an average trading volume of 40,570,000 shares, the short-interest ratio is presently 0.8 days.

Institutional Investors Weigh In On Banco Bradesco

Hedge funds have recently modified their holdings of the stock. GAMMA Investing LLC raised its holdings in shares of Banco Bradesco by 92.7% during the 2nd quarter. GAMMA Investing LLC now owns 8,034 shares of the bank's stock valued at $25,000 after buying an additional 3,864 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Banco Bradesco by 100.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank's stock valued at $27,000 after buying an additional 4,353 shares during the period. Aprio Wealth Management LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at about $25,000. Dorsey & Whitney Trust CO LLC purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at about $26,000. Finally, BSW Wealth Partners purchased a new stake in shares of Banco Bradesco during the 1st quarter valued at about $29,000.

Banco Bradesco Trading Down 1.0%

Shares of NYSE BBD traded down $0.04 during midday trading on Tuesday, hitting $3.35. The stock had a trading volume of 12,484,042 shares, compared to its average volume of 43,846,793. The company has a market capitalization of $35.60 billion, a price-to-earnings ratio of 9.56, a PEG ratio of 0.40 and a beta of 0.75. Banco Bradesco has a 1-year low of $1.84 and a 1-year high of $3.41. The company has a quick ratio of 1.11, a current ratio of 1.11 and a debt-to-equity ratio of 0.63. The company has a fifty day moving average price of $3.15 and a 200 day moving average price of $2.87.

Banco Bradesco (NYSE:BBD - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter, meeting the consensus estimate of $0.10. The business had revenue of $5.87 billion for the quarter, compared to analyst estimates of $32.70 billion. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%. On average, analysts predict that Banco Bradesco will post 0.37 earnings per share for the current year.

Banco Bradesco Cuts Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, December 8th. Stockholders of record on Wednesday, November 5th will be paid a $0.0035 dividend. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, November 5th. Banco Bradesco's payout ratio is currently 8.57%.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Banco Bradesco in a research note on Wednesday, October 8th. Three research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Banco Bradesco currently has an average rating of "Hold" and a consensus target price of $2.40.

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.

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