Banco Bradesco SA (NYSE:BBDO) Sees Large Growth in Short Interest

Key Points

• Short interest more than doubled to 3,141 shares as of July 15, up 119.5% from June 30, though it represents only 0.0% of the company’s stock and 0.0 days of average trading volume.
• Banco Bradesco shares traded at $3.29, within a 12-month range of $2.37 to $3.80. The stock retains a consensus “Buy” rating, despite Weiss Ratings downgrading it from “buy (b)” to “buy (b-).”
• The bank declared a monthly dividend of $0.0034 per share, implying a 1.2% annualized yield and a 5.13% payout ratio; several institutional investors also increased their positions.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 3,141 shares, an increase of 119.5% from the June 30th total of 1,431 shares. Based on an average trading volume of 74,861 shares, the short-interest ratio is currently 0.0 days. Approximately 0.0% of the company's stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Banco Bradesco from a "buy (b)" rating to a "buy (b-)" rating in a research note on Thursday, May 28th. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco presently has a consensus rating of "Buy".

Banco Bradesco Stock Performance

Shares of NYSE BBDO traded up $0.04 during midday trading on Tuesday, hitting $3.29. 345,449 shares of the company's stock were exchanged, compared to its average volume of 76,046. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 1.17. Banco Bradesco has a 12 month low of $2.37 and a 12 month high of $3.80. The company's 50 day moving average price is $3.06 and its 200 day moving average price is $3.28. The firm has a market capitalization of $34.86 billion, a PE ratio of 8.42 and a beta of 0.56.

Banco Bradesco (NYSE:BBDO - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share for the quarter. The firm had revenue of $13.07 billion for the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%.

Banco Bradesco Cuts Dividend

The company also recently declared a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be issued a dividend of $0.0034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend is Wednesday, August 5th. Banco Bradesco's dividend payout ratio is 5.13%.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently modified their holdings of BBDO. SmartHarvest Portfolios LLC boosted its stake in shares of Banco Bradesco by 21.2% in the 1st quarter. SmartHarvest Portfolios LLC now owns 16,371 shares of the bank's stock valued at $54,000 after purchasing an additional 2,863 shares in the last quarter. Intergy Private Wealth LLC increased its position in Banco Bradesco by 31.4% during the 1st quarter. Intergy Private Wealth LLC now owns 13,920 shares of the bank's stock worth $46,000 after purchasing an additional 3,323 shares in the last quarter. Cetera Investment Advisers bought a new position in Banco Bradesco in the 4th quarter valued at approximately $32,000. Renaissance Technologies LLC bought a new position in Banco Bradesco in the 4th quarter valued at approximately $34,000. Finally, SBI Securities Co. Ltd. boosted its position in Banco Bradesco by 974.0% in the fourth quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank's stock valued at $40,000 after buying an additional 12,604 shares in the last quarter.

Banco Bradesco Company Profile

Banco Bradesco SA is a major Brazilian commercial bank and financial services company headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, Bradesco has grown into one of Brazil's largest private-sector banks, serving individual, small-business and corporate clients through an extensive network of branches, correspondents and digital channels.

The bank's operations span retail and commercial banking products including deposit accounts, payment services, lending (personal, mortgage and corporate), credit cards and cash management.

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