Banco Bradesco SA (NYSE:BBDO) Short Interest Up 150.8% in September

Key Points

• Short interest in Banco Bradesco SA surged by 150.8% in September, reaching 44,900 shares, which indicates heightened investor sentiment against the stock.
• Banco Bradesco recently declared a monthly dividend of $0.0032 per share, which reflects a 1.4% dividend yield and a payout ratio of 42.86%.
• Despite the increased short interest, analysts maintain a "Hold" rating on the stock, suggesting a cautious outlook on its future performance.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) was the target of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 44,900 shares, an increase of 150.8% from the August 31st total of 17,900 shares. Based on an average daily trading volume, of 32,500 shares, the days-to-cover ratio is presently 1.4 days. Based on an average daily trading volume, of 32,500 shares, the days-to-cover ratio is presently 1.4 days.

Banco Bradesco Stock Up 3.8%

Shares of NYSE:BBDO traded up $0.11 during trading on Friday, hitting $2.89. 87,597 shares of the company were exchanged, compared to its average volume of 24,093. The stock has a market cap of $30.70 billion, a price-to-earnings ratio of 8.24 and a beta of 0.82. Banco Bradesco has a fifty-two week low of $1.71 and a fifty-two week high of $3.00. The firm has a fifty day moving average price of $2.68 and a two-hundred day moving average price of $2.47. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 0.63.

Banco Bradesco (NYSE:BBDO - Get Free Report) last posted its quarterly earnings results on Wednesday, July 30th. The bank reported $0.10 earnings per share for the quarter. Banco Bradesco had a return on equity of 12.96% and a net margin of 9.76%.

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, November 10th. Shareholders of record on Friday, October 3rd will be given a dividend of $0.0032 per share. The ex-dividend date of this dividend is Friday, October 3rd. This represents a c) annualized dividend and a dividend yield of 1.4%. Banco Bradesco's payout ratio is 42.86%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c+)" rating on shares of Banco Bradesco in a research report on Saturday, September 27th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the stock presently has an average rating of "Hold".

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Goldman Sachs Group Inc. boosted its stake in shares of Banco Bradesco by 54.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank's stock worth $1,073,000 after acquiring an additional 181,299 shares during the period. Kathmere Capital Management LLC bought a new position in shares of Banco Bradesco during the 1st quarter worth approximately $98,000. BSW Wealth Partners boosted its stake in shares of Banco Bradesco by 29.7% during the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after acquiring an additional 7,027 shares during the period. Aprio Wealth Management LLC bought a new position in shares of Banco Bradesco during the 1st quarter worth approximately $43,000. Finally, D Orazio & Associates Inc. bought a new position in shares of Banco Bradesco during the 1st quarter worth approximately $26,000.

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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