Banco Do Brasil SA (OTCMKTS:BDORY) Short Interest Update

Key Points

• Short interest fell sharply: Banco do Brasil’s short interest declined 34.1% to 609,516 shares as of July 15, representing 0.0% of shares outstanding and a days-to-cover ratio of 1.0.
• Analyst sentiment is bearish: Zacks Research and Goldman Sachs both downgraded the stock to “strong sell,” while overall analyst coverage consists of one Hold and two Sell ratings.
• Quarterly results were mixed: The bank reported $0.11 in earnings per share, below the $0.13 consensus estimate, but revenue of $8.60 billion exceeded expectations of $7.84 billion.

Banco Do Brasil SA (OTCMKTS:BDORY - Get Free Report) saw a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 609,516 shares, a decline of 34.1% from the June 30th total of 924,384 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average daily volume of 596,543 shares, the days-to-cover ratio is currently 1.0 days.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BDORY. Zacks Research cut shares of Banco Do Brasil from a "hold" rating to a "strong sell" rating in a research note on Wednesday, July 22nd. The Goldman Sachs Group cut Banco Do Brasil from a "hold" rating to a "strong sell" rating in a research note on Wednesday, April 29th. One equities research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Sell".

Banco Do Brasil Stock Up 1.7%

Shares of OTCMKTS BDORY opened at $4.21 on Friday. The company has a 50 day simple moving average of $3.99 and a 200 day simple moving average of $4.43. The company has a debt-to-equity ratio of 1.56, a current ratio of 0.93 and a quick ratio of 0.93. Banco Do Brasil has a 1 year low of $3.35 and a 1 year high of $5.48. The firm has a market cap of $24.13 billion, a PE ratio of 10.27, a price-to-earnings-growth ratio of 0.39 and a beta of 0.41.

Banco Do Brasil (OTCMKTS:BDORY - Get Free Report) last announced its quarterly earnings results on Wednesday, May 13th. The financial services provider reported $0.11 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.13 by ($0.02). The business had revenue of $8.60 billion during the quarter, compared to analyst estimates of $7.84 billion. Banco Do Brasil had a net margin of 3.34% and a return on equity of 8.86%. On average, research analysts forecast that Banco Do Brasil will post 0.64 EPS for the current year.

About Banco Do Brasil

Banco do Brasil SA is one of Brazil's largest and oldest financial institutions, founded in 1808. As a state-controlled commercial bank with a long history in the country's financial system, it provides a broad range of universal banking services to individual, corporate and public-sector clients. The bank's activities include retail banking, corporate and commercial lending, asset management, investment banking, treasury and capital markets operations, trade finance and international banking services.

Banco do Brasil offers a full suite of products such as deposit accounts, payment and cash management services, mortgages and consumer credit, credit cards, leasing and structured finance, as well as insurance and pension products through affiliated businesses.

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