Short Interest in Banco Bradesco SA (NYSE:BBDO) Decreases By 88.8%

Key Points

• Short interest in Banco Bradesco fell sharply in June, dropping 88.8% to 1,431 shares as of June 30 from 12,809 shares two weeks earlier. That left virtually no stock sold short and a days-to-cover ratio of 0.0 days.
• The stock traded higher on Friday, rising to $3.18, near its recent average trading levels. The shares remain within a 52-week range of $2.37 to $3.80 and currently carry a low beta of 0.56.
• Banco Bradesco also reported earnings and a dividend, posting quarterly EPS of $0.12 on revenue of $13.07 billion. The company announced a $0.0609 dividend, while Weiss Ratings slightly downgraded the stock from “buy (b)” to “buy (b-).”

Banco Bradesco SA (NYSE:BBDO - Get Free Report) was the recipient of a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 1,431 shares, a decline of 88.8% from the June 15th total of 12,809 shares. Currently, 0.0% of the company's stock are sold short. Based on an average trading volume of 76,473 shares, the days-to-cover ratio is presently 0.0 days.

Banco Bradesco Stock Performance

Shares of Banco Bradesco stock traded up $0.14 during mid-day trading on Friday, hitting $3.18. 76,062 shares of the stock were exchanged, compared to its average volume of 74,121. Banco Bradesco has a 12 month low of $2.37 and a 12 month high of $3.80. The company has a 50-day simple moving average of $3.08 and a 200 day simple moving average of $3.26. The company has a debt-to-equity ratio of 1.17, a quick ratio of 1.16 and a current ratio of 1.16. The company has a market capitalization of $33.71 billion, a P/E ratio of 8.16 and a beta of 0.56.

Banco Bradesco (NYSE:BBDO - Get Free Report) last announced its earnings results on Wednesday, May 6th. The bank reported $0.12 earnings per share for the quarter. The firm had revenue of $13.07 billion for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 8.95%.

Banco Bradesco Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, July 7th will be given a $0.0609 dividend. The ex-dividend date of this dividend is Tuesday, July 7th. This represents a yield of 408.0%. Banco Bradesco's payout ratio is currently 20.51%.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted its holdings in shares of Banco Bradesco by 659,843.0% in the 3rd quarter. Franklin Resources Inc. now owns 47,377,311 shares of the bank's stock worth $138,816,000 after buying an additional 47,370,132 shares during the last quarter. 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. Goldman Sachs Group Inc. grew its position 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 valued at $1,073,000 after acquiring an additional 181,299 shares during the period. Kathmere Capital Management LLC increased its stake in shares of Banco Bradesco by 33.5% during the 1st quarter. Kathmere Capital Management LLC now owns 261,787 shares of the bank's stock worth $861,000 after purchasing an additional 65,621 shares during the last quarter. Finally, Ritholtz Wealth Management increased its stake in shares of Banco Bradesco by 202.8% during the 1st quarter. Ritholtz Wealth Management now owns 217,530 shares of the bank's stock worth $716,000 after purchasing an additional 145,684 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Banco Bradesco from a "buy (b)" rating to a "buy (b-)" rating in a report on Thursday, May 28th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company currently has an average rating of "Buy".

Banco Bradesco Company Profile

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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