Banco Bradesco SA (NYSE:BBD) Sees Significant Drop in Short Interest

Banco Bradesco SA (NYSE:BBD) was the recipient of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 14,241,732 shares, a decline of 60.1% from the January 29th total of 35,707,686 shares. Based on an average daily trading volume, of 47,669,515 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 47,669,515 shares, the short-interest ratio is currently 0.3 days.

Institutional Trading of Banco Bradesco

Several institutional investors and hedge funds have recently made changes to their positions in BBD. Inspire Investing LLC boosted its stake in shares of Banco Bradesco by 11.4% during the fourth quarter. Inspire Investing LLC now owns 25,331 shares of the bank’s stock valued at $84,000 after purchasing an additional 2,597 shares during the period. Corient Private Wealth LLC lifted its holdings in Banco Bradesco by 8.8% during the 2nd quarter. Corient Private Wealth LLC now owns 42,025 shares of the bank’s stock valued at $130,000 after buying an additional 3,402 shares in the last quarter. GAMMA Investing LLC boosted its position in Banco Bradesco by 40.1% in the 4th quarter. GAMMA Investing LLC now owns 12,641 shares of the bank’s stock valued at $42,000 after buying an additional 3,619 shares during the period. EverSource Wealth Advisors LLC grew its stake in Banco Bradesco by 59.5% in the 4th quarter. EverSource Wealth Advisors LLC now owns 9,784 shares of the bank’s stock worth $33,000 after acquiring an additional 3,648 shares in the last quarter. Finally, Metis Global Partners LLC grew its stake in Banco Bradesco by 11.3% in the 2nd quarter. Metis Global Partners LLC now owns 36,466 shares of the bank’s stock worth $113,000 after acquiring an additional 3,701 shares in the last quarter.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BBD shares. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a report on Monday, December 29th. Itau BBA Securities reaffirmed an “outperform” rating on shares of Banco Bradesco in a research note on Friday. Four investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco has an average rating of “Buy”.

Banco Bradesco Stock Up 0.6%

NYSE:BBD traded up $0.03 during mid-day trading on Friday, hitting $4.08. 47,048,670 shares of the stock traded hands, compared to its average volume of 39,492,704. The company has a debt-to-equity ratio of 2.68, a quick ratio of 1.12 and a current ratio of 1.45. Banco Bradesco has a 52 week low of $1.93 and a 52 week high of $4.28. The firm’s 50 day moving average is $3.77 and its two-hundred day moving average is $3.47.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings data on Friday, February 6th. The bank reported $0.11 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.11. The business had revenue of $6.54 billion during the quarter, compared to the consensus estimate of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. As a group, equities research analysts predict that Banco Bradesco will post 0.37 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, April 8th. Investors of record on Wednesday, March 4th will be issued a dividend of $0.0036 per share. This represents a c) dividend on an annualized basis and a yield of 1.1%. The ex-dividend date is Wednesday, March 4th. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is presently 7.69%.

About Banco Bradesco

Banco Bradesco SA is a major Brazilian financial institution headquartered in Osasco, São Paulo. Founded in 1943 by Amador Aguiar, the bank has grown into one of Brazil’s largest private-sector banks, offering a full range of financial services to retail, small and medium-sized enterprises, corporate and institutional clients. It operates across the banking value chain, including deposit-taking, lending, payments, trade finance and treasury services, and it participates actively in Brazil’s retail and corporate credit markets.

The company’s product and service mix extends beyond traditional banking to include insurance, pension plans, asset management, leasing and credit card services, delivered through a combination of branches, automated teller machines and digital channels.