Banco Bradesco SA (NYSE:BBDO) Short Interest Up 4,781.5% in July

Key Points

• Short interest surged 4,781.5% to 153,328 shares by July 31, up from 3,141 shares two weeks earlier. Short interest represented approximately 0.0% of shares outstanding, with a days-to-cover ratio of 1.4.
• Weiss Ratings downgraded Banco Bradesco from “buy (b-)” to “hold (c+),” while the sole analyst tracked by MarketBeat also rated the stock Hold.
• BBDO shares traded at $3.04, near the lower end of their 52-week range, while the bank announced a monthly dividend of $0.0034 per share, implying a 1.3% annualized yield.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) was the target of a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 153,328 shares, a growth of 4,781.5% from the July 15th total of 3,141 shares. Approximately 0.0% of the company's stock are short sold. Based on an average daily trading volume, of 111,498 shares, the days-to-cover ratio is presently 1.4 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 3rd. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, Banco Bradesco currently has an average rating of "Hold".

Banco Bradesco Stock Performance

Shares of BBDO stock traded down $0.14 during trading on Tuesday, hitting $3.04. The company's stock had a trading volume of 70,791 shares, compared to its average volume of 77,433. The company has a current ratio of 1.48, a quick ratio of 1.48 and a debt-to-equity ratio of 2.93. The company has a market cap of $32.21 billion, a PE ratio of 7.24 and a beta of 0.55. The business has a fifty day moving average of $3.08 and a 200-day moving average of $3.29. Banco Bradesco has a 52 week low of $2.45 and a 52 week high of $3.80.

Banco Bradesco Cuts Dividend

The firm also recently announced a monthly dividend, which will be paid on Wednesday, September 9th. Stockholders of record on Wednesday, August 5th will be paid a dividend of $0.0034 per share. This represents a c) dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Wednesday, August 5th. Banco Bradesco's payout ratio is presently 7.14%.

Institutional Trading of Banco Bradesco

Large investors have recently added to or reduced their stakes in the stock. O Shaughnessy Asset Management LLC boosted its stake in Banco Bradesco by 79.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 3,067,093 shares of the bank's stock valued at $8,803,000 after acquiring an additional 1,360,089 shares during the last quarter. SBI Securities Co. Ltd. increased its stake in shares of Banco Bradesco by 974.0% during the 4th quarter. SBI Securities Co. Ltd. now owns 13,898 shares of the bank's stock worth $40,000 after purchasing an additional 12,604 shares during the last quarter. D Orazio & Associates Inc. increased its stake in shares of Banco Bradesco by 25.2% during the 4th quarter. D Orazio & Associates Inc. now owns 114,496 shares of the bank's stock worth $329,000 after purchasing an additional 23,068 shares during the last quarter. Ritholtz Wealth Management bought a new stake in shares of Banco Bradesco in the 4th quarter worth approximately $206,000. Finally, Renaissance Technologies LLC purchased a new position in Banco Bradesco in the fourth quarter valued at approximately $34,000.

About Banco Bradesco

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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