Banco Bradesco SA (NYSE:BBDO) Sees Significant Growth in Short Interest

Banco Bradesco SA (NYSE:BBDO) was the target of a large increase in short interest in the month of February. As of February 27th, there was short interest totaling 175,844 shares, an increase of 126.6% from the February 12th total of 77,594 shares. Based on an average daily trading volume, of 56,076 shares, the days-to-cover ratio is currently 3.1 days. Based on an average daily trading volume, of 56,076 shares, the days-to-cover ratio is currently 3.1 days.

Banco Bradesco Price Performance

NYSE:BBDO opened at $3.39 on Thursday. The company has a debt-to-equity ratio of 2.68, a current ratio of 1.45 and a quick ratio of 1.12. Banco Bradesco has a one year low of $1.81 and a one year high of $3.77. The firm has a 50-day moving average of $3.39 and a 200-day moving average of $3.08.

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

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.0033 per share. This represents a c) annualized dividend and a yield of 1.2%. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, March 4th. Banco Bradesco’s dividend payout ratio is currently 5.13%.

Hedge Funds Weigh In On Banco Bradesco

A number of hedge funds have recently bought and sold shares of the company. Intergy Private Wealth LLC bought a new stake in shares of Banco Bradesco in the 4th quarter worth $30,000. Cetera Investment Advisers purchased a new position in Banco Bradesco during the fourth quarter worth about $32,000. Renaissance Technologies LLC purchased a new position in Banco Bradesco during the fourth quarter worth about $34,000. Compound Planning Inc. bought a new stake in Banco Bradesco in the 3rd quarter worth about $35,000. Finally, Tocqueville Asset Management L.P. purchased a new stake in Banco Bradesco in the 4th quarter valued at about $37,000.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. One analyst has rated the stock with a Buy rating, Based on 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.