Banco Bradesco SA (NYSE:BBD) Short Interest Down 20.0% in April

Banco Bradesco SA (NYSE:BBD) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 8,418,523 shares, a decline of 20.0% from the March 31st total of 10,518,511 shares. Approximately 0.1% of the shares of the company are sold short. Based on an average trading volume of 40,144,841 shares, the days-to-cover ratio is currently 0.2 days.

Wall Street Analyst Weigh In

Several brokerages have weighed in on BBD. Itau BBA Securities reiterated an “outperform” rating on shares of Banco Bradesco in a research note on Friday, February 27th. Weiss Ratings upgraded shares of Banco Bradesco from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, April 13th. Four research analysts have rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco has a consensus rating of “Buy”.

Banco Bradesco Price Performance

Shares of BBD stock traded down $0.05 on Friday, reaching $3.84. The company had a trading volume of 13,681,209 shares, compared to its average volume of 33,944,416. The business’s 50-day moving average is $3.84 and its 200 day moving average is $3.67. Banco Bradesco has a one year low of $2.26 and a one year high of $4.30. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 0.97. The stock has a market capitalization of $40.64 billion, a PE ratio of 9.83, a price-to-earnings-growth ratio of 0.51 and a beta of 0.56.

Banco Bradesco (NYSE:BBD) last announced its quarterly earnings results on Thursday, February 5th. The bank reported $0.11 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.11. The company had revenue of $5.52 billion for the quarter, compared to analyst estimates of $6.68 billion. Banco Bradesco had a net margin of 10.19% and a return on equity of 13.78%. Equities research analysts forecast that Banco Bradesco will post 0.47 EPS for the current fiscal year.

Banco Bradesco Increases Dividend

The business also recently declared a monthly dividend, which will be paid on Monday, June 8th. Stockholders of record on Wednesday, May 6th will be issued a dividend of $0.0037 per share. This represents a c) annualized dividend and a dividend yield of 1.2%. This is a boost from Banco Bradesco’s previous monthly dividend of $0.00. The ex-dividend date is Wednesday, May 6th. Banco Bradesco’s dividend payout ratio (DPR) is currently 110.26%.

Institutional Investors Weigh In On Banco Bradesco

Several hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC increased its holdings in Banco Bradesco by 100.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 8,685 shares of the bank’s stock worth $27,000 after purchasing an additional 4,353 shares in the last quarter. Brooklyn Investment Group boosted its stake in shares of Banco Bradesco by 1,276.5% during the third quarter. Brooklyn Investment Group now owns 10,613 shares of the bank’s stock valued at $36,000 after purchasing an additional 9,842 shares in the last quarter. Checchi Capital Advisers LLC bought a new stake in shares of Banco Bradesco during the fourth quarter worth about $39,000. Ballentine Partners LLC bought a new stake in shares of Banco Bradesco during the fourth quarter worth about $41,000. Finally, GAMMA Investing LLC increased its stake in shares of Banco Bradesco by 40.1% in the fourth 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.

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.