Short Interest in Banco Bradesco SA (NYSE:BBDO) Declines By 37.1%

Banco Bradesco SA (NYSE:BBDO) was the target of a significant decrease in short interest in December. As of December 31st, there was short interest totaling 89,450 shares, a decrease of 37.1% from the December 15th total of 142,158 shares. Based on an average daily trading volume, of 34,749 shares, the days-to-cover ratio is presently 2.6 days. Currently, 0.0% of the company’s stock are sold short. Currently, 0.0% of the company’s stock are sold short. Based on an average daily trading volume, of 34,749 shares, the days-to-cover ratio is presently 2.6 days.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a research note on Monday, December 29th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, Banco Bradesco presently has a consensus rating of “Buy”.

Banco Bradesco Trading Up 0.2%

Shares of NYSE BBDO traded up $0.01 during midday trading on Friday, reaching $3.04. The company’s stock had a trading volume of 14,100 shares, compared to its average volume of 47,081. The company has a debt-to-equity ratio of 0.64, a current ratio of 1.12 and a quick ratio of 1.12. The firm has a 50 day moving average price of $3.03 and a 200-day moving average price of $2.82. Banco Bradesco has a 12-month low of $1.80 and a 12-month high of $3.31.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Monday, March 9th. Shareholders of record on Wednesday, February 4th will be paid a $0.0032 dividend. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, February 4th. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s dividend payout ratio is currently 5.71%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Ritholtz Wealth Management purchased a new stake in Banco Bradesco during the second quarter worth about $30,000. Farther Finance Advisors LLC grew its position in shares of Banco Bradesco by 5,542.4% during the 2nd quarter. Farther Finance Advisors LLC now owns 11,172 shares of the bank’s stock valued at $30,000 after acquiring an additional 10,974 shares during the period. Compound Planning Inc. purchased a new stake in shares of Banco Bradesco during the 3rd quarter worth approximately $35,000. Savant Capital LLC purchased a new stake in shares of Banco Bradesco during the 2nd quarter worth approximately $51,000. Finally, Envestnet Asset Management Inc. bought a new stake in shares of Banco Bradesco in the 3rd quarter worth approximately $72,000.

About Banco Bradesco

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.