Short Interest in Banco Bradesco SA (NYSE:BBDO) Drops By 36.5%

Banco Bradesco SA (NYSE:BBDO) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 138,764 shares, a drop of 36.5% from the May 14th total of 218,599 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 87,913 shares, the days-to-cover ratio is presently 1.6 days.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Banco Bradesco from a “buy (b)” rating to a “buy (b-)” rating in a research note on Thursday, May 28th. One research analyst has rated the stock with a Buy rating, According to MarketBeat.com, Banco Bradesco has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Goldman Sachs Group Inc. raised its position in Banco Bradesco by 54.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 516,081 shares of the bank’s stock valued at $1,073,000 after buying an additional 181,299 shares during the last quarter. Envestnet Asset Management Inc. bought a new position in shares of Banco Bradesco during the 3rd quarter worth approximately $72,000. Caprock Group LLC acquired a new stake in shares of Banco Bradesco in the third quarter valued at approximately $410,000. D Orazio & Associates Inc. raised its holdings in shares of Banco Bradesco by 37.3% in the third quarter. D Orazio & Associates Inc. now owns 91,428 shares of the bank’s stock valued at $268,000 after purchasing an additional 24,822 shares during the last quarter. Finally, Compound Planning Inc. bought a new stake in shares of Banco Bradesco in the third quarter worth $35,000.

Banco Bradesco Stock Up 0.3%

BBDO traded up $0.01 during trading on Tuesday, reaching $3.01. The company had a trading volume of 30,309 shares, compared to its average volume of 73,236. The company has a market cap of $31.90 billion, a P/E ratio of 7.72 and a beta of 0.56. Banco Bradesco has a 12 month low of $2.37 and a 12 month high of $3.80. 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 business’s fifty day moving average price is $3.29 and its 200 day moving average price is $3.26.

Banco Bradesco (NYSE:BBDO) last issued its quarterly earnings data on Wednesday, May 6th. The bank reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $13.07 billion during the quarter. Banco Bradesco had a net margin of 8.95% and a return on equity of 14.15%.

Banco Bradesco Increases Dividend

The company also recently declared a monthly dividend, which will be paid on Thursday, July 9th. Shareholders of record on Wednesday, June 3rd will be paid a $0.0035 dividend. The ex-dividend date of this dividend is Wednesday, June 3rd. This represents a c) annualized dividend and a dividend yield of 1.4%. This is a positive change from Banco Bradesco’s previous monthly dividend of $0.00. Banco Bradesco’s dividend payout ratio (DPR) is 7.69%.

About Banco Bradesco

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.