Short Interest in Banco Bradesco SA (NYSE:BBDO) Grows By 20.5%

Key Points

• Short interest in Banco Bradesco (NYSE:BBDO) rose 20.5% to 173,716 shares as of March 31, leaving a short-interest ratio of about 2.6 days and roughly 0.0% of the stock reported as sold short.
• The bank announced a new monthly dividend of $0.0033 payable June 8 (record/ex-dividend date May 6), representing a ~1.1% yield and a stated dividend payout ratio of 100%.
• Shares traded at $3.76 mid-day with a market cap of about $39.9 billion and a P/E of 9.65; Weiss Ratings reaffirmed a "buy (b-)" and MarketBeat shows an average rating of "Buy."

Banco Bradesco SA (NYSE:BBDO - Get Free Report) saw a large increase in short interest in March. As of March 31st, there was short interest totaling 173,716 shares, an increase of 20.5% from the March 15th total of 144,188 shares. Approximately 0.0% of the company's stock are sold short. Based on an average daily volume of 67,410 shares, the short-interest ratio is presently 2.6 days.

Banco Bradesco Stock Performance

Shares of BBDO traded up $0.04 during mid-day trading on Friday, hitting $3.76. 69,881 shares of the company traded hands, compared to its average volume of 56,190. The stock has a market cap of $39.89 billion, a price-to-earnings ratio of 9.65 and a beta of 0.61. The stock has a 50-day moving average price of $3.44 and a two-hundred day moving average price of $3.19. Banco Bradesco has a 1 year low of $2.00 and a 1 year high of $3.80. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.14 and a current ratio of 1.14.

Banco Bradesco (NYSE:BBDO - Get Free Report) last posted its earnings results on Friday, February 6th. The bank reported $0.11 EPS for the quarter. The business had revenue of $12.03 billion during the quarter. Banco Bradesco had a net margin of 9.85% and a return on equity of 13.78%.

Banco Bradesco Increases Dividend

The company also recently disclosed a monthly dividend, which will be paid on Monday, June 8th. Investors of record on Wednesday, May 6th will be issued a $0.0033 dividend. The ex-dividend date of this dividend is Wednesday, May 6th. This is an increase from Banco Bradesco's previous monthly dividend of $0.00. This represents a c) annualized dividend and a dividend yield of 1.1%. Banco Bradesco's dividend payout ratio is presently 100.00%.

Institutional Investors Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the company. Intergy Private Wealth LLC boosted its holdings in shares of Banco Bradesco by 31.4% in the first quarter. Intergy Private Wealth LLC now owns 13,920 shares of the bank's stock worth $46,000 after buying an additional 3,323 shares during the last quarter. Cetera Investment Advisers purchased a new position in shares of Banco Bradesco during the 4th quarter worth $32,000. Renaissance Technologies LLC purchased a new position in shares of Banco Bradesco during the 4th quarter worth $34,000. Compound Planning Inc. bought a new stake in shares of Banco Bradesco during the 3rd quarter valued at $35,000. Finally, SBI Securities Co. Ltd. increased its stake in shares of Banco Bradesco by 974.0% in 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 in the last quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Banco Bradesco in a report on Friday, March 27th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, Banco Bradesco presently 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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