Banco Bradesco SA (NYSE:BBD) Short Interest Up 129.8% in April

Banco Bradesco SA (NYSE:BBD) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 19,345,899 shares, a growth of 129.8% from the April 15th total of 8,418,523 shares. Based on an average daily volume of 30,546,829 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.2% of the shares of the stock are sold short.

Banco Bradesco Stock Down 2.7%

Shares of Banco Bradesco stock traded down $0.10 during trading on Friday, hitting $3.48. 33,638,510 shares of the stock traded hands, compared to its average volume of 30,176,076. The firm has a market cap of $36.82 billion, a P/E ratio of 8.91, a price-to-earnings-growth ratio of 0.43 and a beta of 0.56. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.17. Banco Bradesco has a 52-week low of $2.66 and a 52-week high of $4.30. The stock’s fifty day simple moving average is $3.77 and its 200 day simple moving average is $3.70.

Banco Bradesco (NYSE:BBD) last issued its quarterly earnings data on Tuesday, March 31st. The bank reported $0.09 earnings per share for the quarter. Banco Bradesco had a return on equity of 14.15% and a net margin of 9.24%.The company had revenue of $1.50 billion for the quarter. On average, equities analysts predict that Banco Bradesco will post 0.5 earnings per share for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently disclosed a monthly dividend, which will be paid on Thursday, July 9th. Investors of record on Wednesday, June 3rd will be given a dividend of $0.0039 per share. The ex-dividend date of this dividend is Wednesday, June 3rd. This is an increase from Banco Bradesco’s previous monthly dividend of $0.00. This represents a c) dividend on an annualized basis and a yield of 1.3%. Banco Bradesco’s dividend payout ratio is 7.69%.

Analysts Set New Price Targets

Several analysts have recently issued reports on BBD shares. Itau BBA Securities reaffirmed an “outperform” rating on shares of Banco Bradesco in a report on Friday, February 27th. Weiss Ratings raised Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, April 13th. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company has a consensus rating of “Buy”.

Institutional Investors Weigh In On Banco Bradesco

Several institutional investors have recently added to or reduced their stakes in BBD. Orbis Allan Gray Ltd acquired a new stake in Banco Bradesco in the second quarter worth about $250,398,000. Franklin Resources Inc. lifted its holdings in shares of Banco Bradesco by 2,469.2% during the fourth quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock worth $159,664,000 after purchasing an additional 46,080,856 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Banco Bradesco by 116.9% during the first quarter. Goldman Sachs Group Inc. now owns 33,132,112 shares of the bank’s stock worth $73,885,000 after purchasing an additional 17,853,712 shares during the period. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Banco Bradesco by 25.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 82,163,260 shares of the bank’s stock worth $273,604,000 after purchasing an additional 16,908,425 shares during the period. Finally, Marshall Wace LLP lifted its holdings in shares of Banco Bradesco by 103.9% during the third quarter. Marshall Wace LLP now owns 32,045,389 shares of the bank’s stock worth $108,313,000 after purchasing an additional 16,331,155 shares during the period.

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.