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

Banco Bradesco SA (NYSE:BBD) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 18,809,232 shares, a decrease of 47.1% from the June 15th total of 35,571,576 shares. Based on an average trading volume of 38,411,127 shares, the short-interest ratio is presently 0.5 days. Approximately 0.2% of the shares of the stock are sold short.

Hedge Funds Weigh In On Banco Bradesco

Large investors have recently made changes to their positions in the business. Aquamarine Financial Cayman Ltd increased its stake in Banco Bradesco by 8.1% in the 4th quarter. Aquamarine Financial Cayman Ltd now owns 148,670,798 shares of the bank’s stock valued at $517,056,000 after buying an additional 11,137,145 shares during the period. Arrowstreet Capital Limited Partnership raised its stake in shares of Banco Bradesco by 25.9% during the 4th 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 in the last quarter. Orbis Allan Gray Ltd acquired a new stake in shares of Banco Bradesco during the 2nd quarter valued at about $250,398,000. Wellington Management Group LLP lifted its holdings in shares of Banco Bradesco by 1.0% during the 4th quarter. Wellington Management Group LLP now owns 77,491,815 shares of the bank’s stock valued at $258,048,000 after buying an additional 756,107 shares during the last quarter. Finally, Franklin Resources Inc. grew its stake in shares of Banco Bradesco by 2,469.2% in the 4th quarter. Franklin Resources Inc. now owns 47,947,074 shares of the bank’s stock valued at $159,664,000 after buying an additional 46,080,856 shares in the last quarter.

Banco Bradesco Trading Down 0.4%

Banco Bradesco stock traded down $0.01 during midday trading on Wednesday, reaching $3.62. The stock had a trading volume of 11,023,882 shares, compared to its average volume of 36,785,918. Banco Bradesco has a twelve month low of $2.73 and a twelve month high of $4.30. The company has a debt-to-equity ratio of 1.17, a current ratio of 1.16 and a quick ratio of 1.16. The firm has a market cap of $38.31 billion, a price-to-earnings ratio of 9.27, a PEG ratio of 0.45 and a beta of 0.53. The firm’s fifty day simple moving average is $3.49 and its two-hundred day simple moving average is $3.69.

Banco Bradesco (NYSE:BBD) last released its earnings results on Tuesday, March 31st. The bank reported $0.09 earnings per share (EPS) 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 during the quarter. Equities analysts anticipate that Banco Bradesco will post 0.5 EPS for the current fiscal year.

Banco Bradesco Announces Dividend

The firm also recently disclosed a dividend, which will be paid on Monday, February 8th. Shareholders of record on Tuesday, July 7th will be given a dividend of $0.067 per share. The ex-dividend date is Tuesday, July 7th. This represents a yield of 395.0%. Banco Bradesco’s dividend payout ratio (DPR) is presently 20.51%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Banco Bradesco in a research report on Friday. Two analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy”.

Banco Bradesco Company Profile

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.