Banco Bradesco SA (NYSE:BBD) Short Interest Update

Key Points

• Short interest surged 56% in August to 23.2 million shares, representing 0.2% of Banco Bradesco’s outstanding shares and a short-interest ratio of 0.7 days.
• Several institutional investors increased their positions, including EverSource Wealth Advisors, which boosted its holdings by 59.5%, and Cetera Investment Advisers, which increased its stake by 16.7%.
• Shares opened at $3.29, near the lower end of their 52-week range. The bank reported quarterly EPS of $0.12 and announced a monthly dividend of $0.0037, while analyst sentiment remained “Moderate Buy” despite a recent Weiss Ratings downgrade to “Hold.”

Banco Bradesco SA (NYSE:BBD - Get Free Report) saw a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 23,197,215 shares, an increase of 56.0% from the July 30th total of 14,870,897 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 31,795,825 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On Banco Bradesco

A number of large investors have recently made changes to their positions in the company. Inspire Investing LLC boosted its stake in Banco Bradesco by 11.4% in the 4th quarter. Inspire Investing LLC now owns 25,331 shares of the bank's stock worth $84,000 after purchasing an additional 2,597 shares during the period. Compound Planning Inc. raised its stake in Banco Bradesco by 2.1% during the 1st quarter. Compound Planning Inc. now owns 158,680 shares of the bank's stock valued at $579,000 after purchasing an additional 3,247 shares during the period. Corient Private Wealth LLC raised its stake in Banco Bradesco by 8.8% during the 2nd quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank's stock valued at $130,000 after purchasing an additional 3,402 shares during the period. Cetera Investment Advisers lifted its holdings in shares of Banco Bradesco by 16.7% in the first quarter. Cetera Investment Advisers now owns 24,543 shares of the bank's stock valued at $90,000 after purchasing an additional 3,519 shares in the last quarter. Finally, EverSource Wealth Advisors LLC lifted its holdings in shares of Banco Bradesco by 59.5% in the fourth quarter. EverSource Wealth Advisors LLC now owns 9,784 shares of the bank's stock valued at $33,000 after purchasing an additional 3,648 shares in the last quarter.

Banco Bradesco Stock Performance

BBD opened at $3.29 on Tuesday. The company has a quick ratio of 1.48, a current ratio of 1.48 and a debt-to-equity ratio of 2.93. Banco Bradesco has a fifty-two week low of $2.96 and a fifty-two week high of $4.30. The firm has a market cap of $34.86 billion, a PE ratio of 7.83, a P/E/G ratio of 0.40 and a beta of 0.53. The business has a fifty day simple moving average of $3.42 and a 200-day simple moving average of $3.62.

Banco Bradesco (NYSE:BBD - Get Free Report) last issued its quarterly earnings results on Tuesday, June 30th. The bank reported $0.12 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.61% and a net margin of 10.55%.The firm had revenue of $6.77 billion for the quarter. As a group, equities analysts predict that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The company also recently announced a monthly dividend, which will be paid on Thursday, October 8th. Stockholders of record on Thursday, September 3rd will be given a $0.0037 dividend. This represents a c) annualized dividend and a dividend yield of 1.4%. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. The ex-dividend date of this dividend is Thursday, September 3rd. Banco Bradesco's payout ratio is 7.14%.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Banco Bradesco from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. One analyst has rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy".

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil's largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil's retail and corporate credit markets.

The company's product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.

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