Short Interest in Banco Bradesco SA (NYSE:BBDO) Decreases By 32.3%

Key Points

• Short interest in Banco Bradesco SA has decreased by 32.3% in September, with current short interest totaling 30,400 shares.
• The bank recently declared a monthly dividend of $0.0032 per share, resulting in an annualized yield of 1.3%.
• Banco Bradesco's stock has increased by 1.9%, trading at $2.90, with a market cap of approximately $30.81 billion.

Banco Bradesco SA (NYSE:BBDO - Get Free Report) was the target of a large decline in short interest in September. As of September 30th, there was short interest totaling 30,400 shares, a decline of 32.3% from the September 15th total of 44,900 shares. Based on an average daily trading volume, of 36,000 shares, the short-interest ratio is presently 0.8 days. Based on an average daily trading volume, of 36,000 shares, the short-interest ratio is presently 0.8 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Banco Bradesco in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock presently has an average rating of "Hold".

Banco Bradesco Stock Up 1.9%

Shares of NYSE:BBDO traded up $0.06 during midday trading on Thursday, hitting $2.90. 14,728 shares of the company's stock were exchanged, compared to its average volume of 52,024. The company has a debt-to-equity ratio of 0.63, a current ratio of 1.11 and a quick ratio of 1.11. The stock has a 50 day moving average price of $2.76 and a 200-day moving average price of $2.53. The company has a market cap of $30.81 billion, a PE ratio of 8.27 and a beta of 0.82. Banco Bradesco has a 12 month low of $1.71 and a 12 month high of $3.00.

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

Banco Bradesco Cuts Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, December 8th. Investors of record on Wednesday, November 5th will be issued a dividend of $0.0032 per share. The ex-dividend date is Wednesday, November 5th. This represents a c) annualized dividend and a yield of 1.3%. Banco Bradesco's dividend payout ratio is 8.57%.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently bought and sold shares of BBDO. Ritholtz Wealth Management bought a new stake in Banco Bradesco during the second quarter worth $30,000. Farther Finance Advisors LLC grew its stake in shares of Banco Bradesco by 5,542.4% in the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank's stock worth $30,000 after acquiring an additional 10,974 shares in the last quarter. Aprio Wealth Management LLC bought a new stake in shares of Banco Bradesco in the 1st quarter worth $43,000. Savant Capital LLC bought a new stake in shares of Banco Bradesco in the 2nd quarter worth $51,000. Finally, BSW Wealth Partners grew its position in Banco Bradesco by 29.7% in the 1st quarter. BSW Wealth Partners now owns 30,709 shares of the bank's stock worth $64,000 after purchasing an additional 7,027 shares in the last quarter.

Banco Bradesco Company Profile

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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